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What kind of person can be a guarantor?

6 replies

siriusmewsaysochayethenoo · 22/01/2009 10:50

For a rental property. Can It be a relative and do they need to own their own house?

OP posts:
AmIOdetteOrOdileOrABagpipe · 22/01/2009 10:52

Not too sure, but I would say yes to both - in essence it has to be someone who can vouch for you and pay your rent if you do a runner.

littlelamb · 22/01/2009 10:53

Yes and yes. They will need to own their own house and to be able to prove they have sufficient income to pay your rent if you ever default it.

Bink · 22/01/2009 10:57

Not a technical thing - your landlord can accept or refuse anyone, in his/her own discretion.

Effectively what the landlord is looking for is credit-worthiness (likelihood of being able to pay debts) - so own house-owner might be more acceptable than not (though not necessarily, nowadays). Relative might be tricky, more because of the feeling that your finances might be in some way connected - so if you can't pay, neither will your relative.

I'd make your proposal and just see if it's accepted. Ask for reasons if it's not.

Bink · 22/01/2009 10:59

PS - my post was on the assumption this is a private rental - is it?

If you're renting from some other sort of outfit (housing association?) they'll have guidelines you can ask to see.

siriusmewsaysochayethenoo · 22/01/2009 11:12

Blink It is a private rental. We got into arrears in December and although they are now cleared I think the landlord was a bit dubious(understandably)> They wanted 3 months rent in advance as well as a deposit which was impossible for us so I countered with a guarantor. Meeting the landlord today to discuss with him.

OP posts:
Bink · 22/01/2009 11:29

OK. Worth getting hold of as much written evidence as you can of your proposed guarantor's financial solidity - current bank statements, evidence of employment, current credit record - not necessarily to hand over, but to show. Will proposed guarantor come to meeting with you too? That would probably be helpful.

All the best, and congrats on clearing the old arrears - that must feel great!

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