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Private Guarantors

  • What am I signing up for as a Private Guarantor?

    In summary you're agreeing to be responsible for all the tenant's obligations under the tenancy agreement including unpaid rent; bills; any damage caused etc. Please check the tenancy and guarantee agreement thoroughly to ensure you fully understand your risks.

  • Why would I want to be a Guarantor?

    Guarantors are often close friends or family of someone looking for a property that cannot provide the evidence landlords want to confirm they are suitable tenants. Often this relates to a lack of past evidence that they will be able to pay rent on a consistent, regular basis.

    It means acting as a guarantor can make a big difference in helping someone secure a property for rent. Examples include:

    · A young person just starting work

    · A student

    · Someone on housing benefits

    · A professional person new to living in the UK

    However, because being a guarantor is a big commitment, we'd always recommend you think carefully before agreeing to it – even if you know the person well.

  • How much does a guarantor reference cost?

    A guarantor reference will be paid for and carried out as normal and a copy stored in their "online briefcase". A guarantor registration is £3.99 and the reference fee is £49.50.

  • Will my details as a Guarantor be displayed on your site?

    A guarantor's registration is considered private and your details will not be displayed on our site. However a registered landlord will be able to contact you and request a copy of your reference if they are interested in the tenant you are backing.

  • How do I confirm I'm acting as a Guarantor for a tenant on your database?

    Once you have passed LetRef's checks and a report issued, you can amend your account to link it to the tenant's ID you are guaranteeing. This now amends their registration to show they have a referenced guarantor.

  • When can I stop being a Guarantor?

    Generally the details would be in the agreement and you should read it carefully before signing, as it could be far longer than the initial fixed term contract.

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