Online Guarantor?
9:43 AM, 11th August 2020, 6 years ago
14
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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
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Mortgages For Actors
Member Since June 2020 - Comments: 18
11:31 AM, 15th August 2020, About 6 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.
Member Since February 2020 - Comments: 194
11:42 AM, 15th August 2020, About 6 years ago
Expensive insurance policy and only as good as the small print.
Tread warily.
Member Since October 2016 - Comments: 55
10:14 PM, 15th August 2020, About 6 years ago
No RGI (rent guarantee insurance) will cover these tenants?
Member Since September 2014 - Comments: 20
7:28 AM, 10th October 2020, About 6 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.