Being a Garantor
What is a guarantor?
When a student chooses to pay in installments, the student will need a guarantor to sign the tenancy paperwork. A guarantor is a third party, such as a parent or relative who takes joint financial responsibility for the tenancy if the student fails to pay their rent.
Who can be a guarantor?
A guarantor has to be over the age of 18, be a UK resident and be in full time employment.
What do I need to provide to be a guarantor?
You can provide:
(i) A copy of proof of identity (with photograph) such as:
- Driving License
- PROOF OF EMPLOYMENT
(ii) A copy of proof of address (less than 6 months old) such as:
- Utility bill statement (i.e. Electricity, Water, Telephone)
- Bank statement
- Council tax bill for current year
Please note: if your accounts are managed online or you have opted for paperless billing, you can usually log into your account and print out a statement, which will have your address on.
What if my son/daughter is an international student?
If your son/daughter is an international student they will need a UK guarantor to secure a room at one of our properties, only if they choose to pay their contract in instalments.
We have partnered HousingHand.co.uk who will act as UK based guarantors for international students. For more information about HousingHand.co.uk please visit HousingHand.co.uk
For students who choose to pay in full, they will not be required to provide a UK guarantor
Signature Properties student living in partnership with Housing Hand provides a guarantor service for students who are unable to provide a satisfactory UK based guarantor.
Apply for Housing Hand Guarantor service
For further information about the Housing Hand Guarantor service, please visit housinghand.co.uk or call them directly on +44 (0) 20 7205 2625.
How much does it cost?
Housing Hand charges a one off fee at the beginning of your tenancy. The fee is calculated on your course and location details, to get an instant quote you just need to make an application online. The cost of the service will be between 60-95 % of your share of the monthly rent, subject to a minimum of £295.