What is a guarantor?

bank of mum and dadWhat is a guarantor?

A guarantor is a third party, such as a parent or guardian, who agrees to pay your rent if you don’t pay it.
We can ultimately take legal action to recover any unpaid rent from your guarantor.

There is a legal requirement for a guarantee agreement to be in writing. The agreement sets out the guarantor’s legal obligations.

Is a guarantor only liable for unpaid rent?

No, the guarantee will be for any charges left outstanding.

Does the guarantor have to live in the UK?

Yes. The guarantor does not have to be a UK citizen, but they will need to be resident in the UK.

Guarantors of tenants who live in shared accommodation

Because many of our tenancies are jointly held by several tenants the guarantee will cover the rent and any charges for all of the tenancy, not just a share.
Make sure your son/daughter is comfortable with who they are living with.

When does the guarantor’s liability end?

Our guarantees are open-ended. This means that liability could extend beyond the fixed term, to any extension, as well as to certain variations such as rent increases or emergency/sudden changes of house.

If this is the case, the guarantor’s liability may continue for as long as the tenancy exists and will only end if the tenancy is legally ended.

If you have any more questions on being a guarantor please do not hesitate to get in contact with the team.