What does the scheme cover?
- The scheme covers rent arrears only.
- The guarantee is only applicable to Assured Shorthold Tenancies up to 12 months at a time
- YourGuarantor is able to guarantee up to a maximum of £1,500 per person per calender month
- YourGuarantor reserves the right not to approve applications where it is aware that the property / landlord in question has a history of negative feedback.
How much does it cost?
- The YourGuarantor guarantee will cost a percentage of the value of your tenancy / lease (or your share of the lease in the case of shared accommodation. The fee is from 3.5% (Overseas/EU students).
How does it work?
- The scheme is be administered by YourGuarantor
- Apply online at yourguarantor.com
- A draft of our application will be sent to your accommodation provider
- Applications will be subject to approval by YourGuarantor & your accommodation provider.
- Confirmation of acceptance will be emailed to you.
- A certificate of the guarantee will be available online once you have paid the fee.
- You will notify YourGuarantor and landlord as soon as you become aware of any circumstance, or potential circumstance, which could affect your ability to satisfy your responsibilities under the proposed tenancy agreement.
- You undertake to cooperate with YourGuarantor as required in order to minimise their liability under any Guarantee that they provide on your behalf and understand that this may mean vacating the rental property if the rent is in arrears.
- You are not aware of any current circumstance that would prevent you from satisfying all your responsibilities, as set out in the proposed tenancy agreement.
- You understand that, although YourGuarantor will act as Guarantor, you will remain liable for any losses, damages, expenses and/or costs that the Landlord would normally be entitled to recover.
- You understand that any rent paid out on your behalf or additional costs incurred by YourGuarantor under any Guarantee they may provide on your behalf shall remain your responsibility until settled in full.
- You understand that YourGuarantor may, at their own discretion, appoint a third party to recover any losses on its behalf.
- You understand that by accepting the Guarantee offered by YourGuarantor, you are confirming acceptance & understanding of the responsibilities set out in these commitments.