Any landlords or letting agents around?

[ILoveMaxiBondi]

My mum is my current guarantor for my tenancy. I’m having to move and she has retired since the last time she was required to sign the tenancy agreement. I applied for a property and they have said my guarantor needs an income over £23,000. She doesn’t have that but she has her work pension, and money saved in the tens of thousands that she has instant access to. I’ve also never missed a rent payment.

I’m very worried now that I won’t be able to rent any property due to my mum now being retired.

Can anyone tell me what my chances are?

Her salary on retirement was >£40k

If she can prove savings of your share of the rent to cover the full initial term of the let that may be sufficient depending on the referencing agency.
Alternatively she could offer to pay rent upfront and you could then pay what you would be paying to the agency/LL monthly to her instead.

If you can't find a guarantor then they ask for 6 months rent upfront. Is that an option?

Thank you trixie she has enough instant access money that she could pay 2.5 years of rent if it came to it. That’s a good idea of offering to pay upfront too. I’ll discuss that with her and the letting agent.

Yes chocolate, I’m sure it would be. My mum has said the money is there if I need it.