Why Is Having a UK Guarantor So Important?
The introduction of the Renters Rights Bill changes the UK rental market. Tenants have far more rights and landlords are nervous about tenants who may default on the rent.
If you are based overseas, and/or self-employed, a landlord will be reluctant to make you their ‘first choice’ tenant.
If you have friends or family based in the UK, who will guarantee you, subject to affordability checks, then that will help you secure a property, with or without pets.
IF NOT then I would strongly recommend a UK guarantee company, such as Rent Guarantor, to make you more appealing to landlords. I am seeing landlords becoming increasingly nervous about picking the wrong tenant.
Recently I was in an Estate Agency and heard a colleague putting forward an offer to a landlord in person. The tenant profile was a lawyer, relocating to London. The company was happy to pay a year up front and they wanted a 2-year tenancy. I could see the nervousness of the landlord. A reluctance to say yes immediately. To me it was a ‘no brainer’. No doubt, 12 months ago that same landlord would have said yes within minutes. Now landlords are very cautious. The rental climate has dramatically changed with private landlords selling. All about supply versus demand.
If you’re renting in the UK, especially as an overseas tenant, having a UK guarantor can make all the difference in securing a property. Here’s why:
1. Reassuring the Landlord
As mentioned above, Landlords want to minimise risk. A UK guarantor provides them with extra security. It’s essentially a backup plan—if you’re unable to pay rent, the guarantor is legally responsible for covering it. This reassurance often makes landlords more comfortable accepting your application.
2. No UK Credit History? No Problem
For those new to the UK, a lack of credit history can be a stumbling block. A guarantor with a solid UK credit profile fills that gap, giving landlords confidence in your ability to meet financial obligations.
3. Opens More Doors
In a competitive rental market, having a guarantor can set you apart. It shows you’re proactive and prepared, which landlords appreciate. Some landlords even require a guarantor as standard practice, so having one ready can save time and stress.
4. Alternatives if You Don’t Have One
Not everyone has a friend or family member in the UK to act as a guarantor, but don’t worry—there are options:
- Rent Guarantor Services: https://rentguarantor.com/?ref=mjk5ytv Companies like Rent Guarantor can step in to provide the assurance landlords need.
- Upfront Payment: Offering several months’ rent in advance can sometimes be an alternative to having a guarantor. The Renters Rights Bill https://www.gov.uk/government/news/new-law-to-protect-renters-one-step-closer-to-becoming-a-reality will limit this to only 1 month up front.
Final Thoughts
A UK guarantor isn’t just a formality—it’s a key factor that can make renting smoother and faster. If you don’t have one, consider exploring professional guarantor services to keep your rental process on track. Being prepared and proactive is always the best approach in a competitive market!
Please book a free Discovery Call if you have any UK property questions.
I hope this information is helpful. If you’re relocating to the UK with your pets, feel free to join our informative Facebook group, “Relocating to the UK with your Pets”, for more guidance and support or The Ask A UK Pets & Property Professional Facebook Group
Russell Hunt is the founder of Petslets.com, where he serves as a pet-friendly UK property specialist. He advises clients on renting and buying properties in and around London as well as across the UK.