By agreeing and signing to be guarantor for a tenant you will need to take on the following responsibilities:
If the tenant defaults in the payment of rent or other sums laid down in the tenant agreement the guarantor will pay the landlord on demand any such rent or other sums not paid.
If the tenant defaults in the performance or observance of the Tenants obligations contained in the tenancy agreement the guarantor shall pay the landlord all losses, damages, expenses and costs which the landlord shall be entitled to reside by reason of tenant’s default.
The guarantor may not assign its rights or obligations to any person without the prior consent of the landlord. In the event that more than one person constitutes the guarantor the liability shall be joint and several.
An acceptable guarantor should have:
A good credit history with no CCJ’s, IVA’s or Bankruptcy
An annual income of at least three times the annual rent, if he/she is a sole guarantor.
Overseas guarantors may be considered on a case by case basis and are subject to landlord approval
We will require the following documents from guarantors:
Photographic ID - by way of a copy of either your passport or driving licence
Address ID - by way of Utility or Mobile phone bill (Bank statements are not acceptable)