Whether you’re a student or professional, live in the UK or are moving to the UK, you may occasionally need to find a guarantor.
When searching for private accommodation it is important to remember that most landlords now require students (and particularly international students) to provide details of a UK-based guarantor before they sign the tenancy agreement as a condition of the housing contract. The guarantor is a third-party individual or organisation who guarantees to pay the landlord any rent that the student fails to pay and the cost of any damage for which the student is responsible and fails to pay.
If you cannot provide one, you may be required to pay most of the rent for the full contract before you move in. This is a considerable financial challenge for many students.
If you do need a guarantor and you can find one, you must check that your guarantor's financial liability is limited to just your rent/damages. It is becoming increasingly common that landlords will state that the guarantors' responsibility to pay rent/costs etc. extends to all tenants in the accommodation. This means that even if you pay your rent on time, the landlord can still ask your guarantor to cover any rent not paid by another tenant. They will usually pursue the other tenant’s guarantor first but if they fail to pay the landlord can ask the other tenants’ guarantors to cover the cost.
International and EU students usually struggle more to find a UK-based guarantor. For students that are unable to secure a guarantor via family or work, Housing Hand is a reputable company that will provide this service for a fee.
UWE has negotiated with Housing Hand to secure all UWE students a preferential rate of 5% if they are paying up front, or 5.5% if they pay in monthly instalments. For estranged students and care leavers (who are a part of UWE Cares) there is a separate link which will be provided via the UWE Cares team, where they get 6.5%, but do not need a co-signer.
https://housinghand.co.uk/