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guarantor question

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Monday 19 November 2012 8:13:07 pm

just paid £450 for credit check even though lived out country for 10 years!!!! had to pay for a guarantor only for her to fail because she rents her property!!!! need advice on what to do next?


Wednesday 21 November 2012 3:00:47 pm

£450 is an awful lot to pay for a credit check - it could have been done free with one of the Tenants Tips sponsors on the following link.


You will need a credit card initially to start the process but then you just cancel it when you get the free credit check report.

A new to UK credit check would normally cost around £90..

Not sure why they are complaining about being cc's as they have been out for 10 years, even more reason. People can be cc's from any country these days.

In terms of your guarantor failing, this would not have been due to her renting her property - perhaps you should run her through the free credit check because reasons for failure would include being late with their rent, they have ccjs, they have moved a lot during the last 3 years or they are unemployed. As long as a guarantor is working and earns 3.5 times the annual rent you are being asked to pay, there should be no problem. For example, 1,000, per month equating to 12,000 a year the guarantor needs to earn 42000.

I'd suggest you find a new guarantor or offer to pay 6 months rent in advance or find a new agent..


Thursday 06 July 2017 12:40:33 pm

If you were looking to pay for a guarantor because you can't find one there is a great company that does this. They're called Housing Hand and you can find them here https://www.housinghand.co.uk/

Housing Hand are a guarantor service which means you pay them to be the guarantor for you. It only cost me a months rent and I was able to pay in 8 monthly instalments which made it super easy and cost effective.

Anyway, hope this helps anyone that might read it!