What is a Guarantor?
A guarantor is someone who is willing to legally be responsible for your rent, should you not be able to pay. For example, a parent could be your guarantor, then if you couldn't pay the rent, the agency or landlord would be able to legally pursue your parent for the owed money.
Do I need a guarantor?
Sometimes our recommendation will be 'acceptable with a guarantor'. If you see this status, it means that we'd not recommend you let to that applicant without one.
Examples of circumstances that may require a guarantor:
- Student renting with no income — living off loan.
- Employed but not earning enough to cover the property in question.
- New role, but Movem has been unable to verify the employer.
Guarantors through Movem
Movem can process guarantors in exactly the same way we process applicants. They can both be instant, and manual.
Does my guarantor have to be my parents
Not at all, although it's common for it to be your parents. A guarantor can be anybody with enough income, who's comfortable being legally responsible for the rental amount.
If you cannot find a guarantor, there are external companies who can offer UK guarantors — Google it!