It's not easy renting in the UK. Many people are asked to pay up to 12 months rent up front if they don't reach the right referencing criteria.
We've seen a 233.9% increase in people needing our services this year so far. That's a massive rise considering we're now out of lockdown. These people include students, employed professionals and those on benefits. And, people need rent guarantors for a number of reasons...
Employed
For the self-employed, if you don't have a consistent wage check landlords worry. They want to ensure they rent is paid on time each month. If you're a freelancer and can't show regular payslips getting a new home can become a struggle. 40% of our applicants are in employment. This might mean they need a guarantor because they want a home they deserve and need someone to back them up. This is a major issue as rent prices continue to soar.
Students
Students usually don't have much of a financial history, land less likely a credit rating. Plus, international students bank accounts are registered overseas so can't be used as a reference by the majority of agents. This makes moving country and finding a new home really hard work without a rental guarantor.
Benefits
Those on benefits also struggle finding housing up and down the UK. This is why we do accept PIP and other benefits as long as they're not over 20% of your total income.
Unsure as to whether you require a rent guarantor? Read our complete guide on all the possible reasons you may need one by clicking below:
