A guarantor application form is very similar to the actual Tenants application form and normally covers exactly the same questions.
At the end of the day the guarantor is taking on similar liabilities as the original applicant so it seems fit the requirements will be similar also.
There will be some additional wording specifically for you as rent guarantor also.
When completing the form, if you are not doing it at the renting agency premises, you should take great care to complete the form completely and in full detail as any omissions or errors will only cause extra stress and grief for yourself.
In brief the details normally requested of a guarantor are:-
- Rental Property Information, including the address and proposed rent for which you will be acting as guarantor, what is the proposed start date for the tenancy and for what period (usually 6 or 12 months) the tenancy will run for and for which you will initially be liable as guarantor.
- The Guarantors Personal details, including full name, date of birth and current residential address. Normally, the requirement is to list your last three years history of where you have lived, which should include overseas addresses if that’s where you lived.
- A declaration from you as to your financial status. This normally requires you to put your annual salary and declare any CCJ’s you might have.
- You will be asked to list your current employment status and up to eighteen months history. Normally, you will be required to be in current full time employment. If you are self-employed you will be asked to provide three years sets of accounts, maybe three months banks statements and maybe even a letter from your accountant.
- There maybe be a request for a personal reference also.
- There will be a place for you to sign and date your application.
- At the same time or later, upon request you will be asked to provide id and proof of address. This normally means a passport or driving license and utility or council tax bills.
- It may also ask for you passport or National Insurance or Social Security number.
- There is normally a charge by the letting agent or landlord for processing this form and the cost of this should be stated on the form
There is normally, or should be a statement on the form regards your rights and what will happen after you have signed the form.
Something like …”The details supplied by you are checked against those held on credit score agency databases for the purposes of assessing your suitability to act as a Guarantor for a tenancy at the property above. A record is kept of this search, however it will not affect your ability to obtain credit or other services in any way. Information is processed in confidence and within the guidelines of The Data Protection Act & the appropriate International privacy laws. I the undersigned authorise the landlord or the landlord agent or anyone authorised by him to conduct the necessary financial, credit reference and employment verification checks required to assess my suitability to act as a Guarantor for the proposed agreement .”
That’s about it. Good luck.