Online Guarantor?

Online Guarantor?

9:43 AM, 11th August 2020, About 4 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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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

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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

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

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

TC

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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.

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