Online Guarantor?

Online Guarantor?

9:43 AM, 11th August 2020, About 4 years ago 14

Text Size

In trying to let a small property recently I have had a lot of applicants who can’t meet the affordability and or credit criteria.

A few have asked if I would accept an online guarantor which they would have to find £40+ a month for.

I’m curious to know if anybody has heard of this option before, utilised an online guarantor and what your thoughts are regarding this?

Many thanks

TC

 


Share This Article


Comments

Able Services

11:31 AM, 15th August 2020, About 4 years ago

I think, I would think twice before taking on someone that needed a Co-Signer for the rent. There is too much to go wrong. I know of a case where someone had been offered a job and asked the owner of the company to stand guarantor for them. Totally wrong, they went to a family member who did it instead.

Smartermind

11:42 AM, 15th August 2020, About 4 years ago

Expensive insurance policy and only as good as the small print.
Tread warily.

Jon D

22:14 PM, 15th August 2020, About 4 years ago

No RGI (rent guarantee insurance) will cover these tenants?

Tracy Conner

7:28 AM, 10th October 2020, About 4 years ago

Thank you for your opinions - they all point one way. Proceeded with UK homeowner guarantor on this, there are always better opportunities around the corner and it doesn’t take long to get a tenant that stacks up so move on to the next applicant.

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Tax Planning Book Now