- Hire a third-party guarantor.
- Offer to pay a higher rent.
- Opt for a sublet (or become the new roomie)
- Go with a co-living company.
- Get insurance that guarantees your rent.
- Shop around for the right landlord.
What do I do if I don't have a UK guarantor?
Options if you can't get a guarantor Some councils and charities have rent deposit, bond and guarantee schemes that: give cash to help with rent in advance and a deposit. act as a guarantor service and cover unpaid rent or damage up to a certain amount.7 Jun 2021
What if you dont have a guarantor for an apartment?
You may be able to persuade your landlord to waive the need for a guarantor by offering them a larger deposit or 6 months' rent in advance. This may give them the greater sense of security they are looking for. However, neither option is ideal and you may not have the money to make such a suggestion.
Do you have to earn a certain amount to be a guarantor?
Generally, you'll need a guarantor if your credit score or income is below a certain level. Most landlords require a credit score of 600 or above and an annual salary that's at least 40 times the monthly rent. (A monthly salary that's three times the monthly rent could work too, depending on where you live.)8 May 2020
Do you need proof of income with a guarantor?
A guarantor must have superior credentials which include an excellent credit score, and at least double the normally required income. A guarantor must fill out an application, provide income documentation, have their credit pulled, and sign your lease.20 Jan 2021
Does a guarantor have to be in employment?
A Guarantor must be working AND a homeowner. This is because they need to be able to afford the rent as if they were paying it anyway. It is also important to note that your Guarantor must earn at least 30x the monthly rental income per annum.
Can you be a guarantor if you are unemployed?
Almost anyone can be a guarantor. However, you should only be a guarantor for someone you trust and are willing and able to cover the repayments for. To be a guarantor you'll need to be over 21 years old, with a good credit history and financial stability.