Advice about guarantor.

Oldernotwiser

Do check out the amount of Council Tax payable. If you're sharing a 3 bed house (for example) it's likely to be considerably more than £75 per month, evenn with the discount. This is always a problem when you have working people sharing with students; the other is likely to be the clash of lifestyles but you may cope with this if you're all friends.

PasturesNew

BobProperty wrote: »

Not true. If you have a "low income" you entitled to HB.
http://england.shelter.org.uk/advice/advice-120.cfm

£17k for a single person isn't even a qualifier for benefits, not even for working tax credit if you're over 25 and live in your own home alone.

The cut off point is very low.

But £17k isn't too shabby for a first job at all! More than many adults ever achieve.

The council tax will be the big one though. As the house is large enough to house quite a number of students, it might even be in a group D, E, F, etc .. and the OP will have to pay 3/4s of the council tax bill on a large house.

You can find out how which band a property is in though.

The CT liability will fall fully and only (minus the 25% single person discount as he is the only person in the house paying CT) on the OP.

As for needing a guarantor, if the landlord wants one then that's it. What the landlord wants he gets.

PasturesNew

Look up and calculate your council tax: http://www.voa.gov.uk/cti/InitS.asp?lcn=0

pinkshoes

Oldernotwiser wrote: »

Do check out the amount of Council Tax payable. If you're sharing a 3 bed house (for example) it's likely to be considerably more than £75 per month, evenn with the discount. This is always a problem when you have working people sharing with students; the other is likely to be the clash of lifestyles but you may cope with this if you're all friends.

True! The £75/month was for a very small property and including the 25% discount! If it's a 4 bed house, it might be MUCH more!! Sharing with students when you're the only money earner is hard work!

robwend

lil_me wrote: »

Agents where we are require a guarantor if you don't earn 3 times the rent. The guarantor must own their own home and also be on the same income. Totally depends on the agent.

scince when do you have to own your own home to be a guarentor?

PasturesNew

Whether a guarantor needs to own their own home varies between agreements.

Here is one where they do: http://www.e-lettings.co.uk/e-lettings_renting_procedures.htm

Here is one where they don't: http://www.johnstquintin.com/index.php?p=0&s=4

However, for many people the hard bit will be finding a guarantor who does meet the criteria. The guarantor has to be financially able (on paper) to be able to pay all your rent if you fail to.

e.g. in my 2nd link, their criteria was for a guarantor to earn 3x the yearly rent you want to be covered. On this page too somebody has said 3x the rent http://www.landlordzone.co.uk/forums/archive/index.php/t-6666.html (see samantha close to the bottom)

lil_me

robwend wrote: »

scince when do you have to own your own home to be a guarentor?

Since the agent we went through insisted on it. One of their conditions. No retired persons either which leaves older people much more 'stuck' when it comes to finding one as many would ask their parents. Then of course if you needed one you had to pay for them to be credit checked also and they had to provide all the ID we had to (thankfully we didn't need one) Oh they were strict, right pain in the ****. PasturesNew thanks for those links, the agent we went through doesn't seem to like showing off how awkward they are as it's not on their website.

PasturesNew

When I moved in here the agent muttered about a guarantor as I wasn't working. I'd have been stuffed a bit as my parents are retired and the only person I could have asked to be a guarantor was a friend who is only available about once a week (when she's not on a cruise) and who is 200 miles away ... and when you've got a theoretical move in date it can be quite fraught.

I paid 6 months' rent in advance. No guarantor required in the end.. but agent's weren't very communicative or sure of what the landlord might insist on.

Abeille

It's all fixed, luckily it was a man I don't think the blowjob would have worked otherwise (jokes)

Nah, I spoke to them and they've agreed if I pay more deposit and a couple of months rent in advance I don't need to. I'm so happy. >.<

loulou41

My son is renitng a room in central London. Although he had to pay £24 for a credit check, £500 to the leaving tenant (an agreement between landlord and tenants) and 1 month rent in advance, he was not asked to provide a guarantor. He was only in his job through an agency and is on a short contract. He was a bit concerned about ths. I guess, it depends on the letting agent, but did have to provide references from his last two employers and a personal one.