The pros and cons of being a guarantor

  • Share
  • Share

Add a Comment

*All fields required

  1. When I was looking at renting the rent was reduced when I put in that I had a guarantor. Does this mean that the guarantor would have to pay the difference for the full standard rent or not ?

    • I’m sure the details you need will be in the agreement your guarantor signed with the landlord. I would assume that your guarantor’s liability would be for the rent you actually pay not some hypothetical alternative, but you should check with your guarantor.

  2. As a tenant, there really should be a system where the landlord can consult with a letting agent as to what is expected if a tenant cant provide a guarantor. I’m 55 years old, rented my current property for the past 12 years, employed and with clean credit record history. As a letting agent, they are paid to negotiate with the tenant, even if it means paying 6 months rent in advance, along with deposit.
    I know the norm is, to refer to a forth party guarantor company, but why on earth would I want to pay (per annum) a company to act as my guarantor? Surely it should be dealt with between myself, the letting agent and the landlord?

    • You should be highly suspicious of anyone asking you to be a guarantor who you do not know well and do not trust. Trust can only be earned over an extended period of time and if you barely know this person then how can you trust them?


Latest posts

rotating loading icon
arrow to return to top