My Dad is my guarantor. But he is 78 and does not use online banking. Please could anyone help with this. I have given his bank details he doesn’t know how to complete ``
My first thought as a LL is whether he’s a suitable guarantor if he can’t negotiate this hurdle. If it comes to digging you out of a financial hole by covering your bills/damage etc I’d want someone who was capable enough to respond quickly online to do this. He wouldn’t fit my bill and if you confess this to your potential LL it might not fit their requirements either.
I’d suggest you get him registered with online banking and that he trusts you with access so you can set it up. If he’s 78, it would be worth doing anyway in case he becomes incapacitated for some reason and geting LPA would also be recommended if no one has it for him yet.
I assume you are querying Referencing!? Referencing via Openrent des not require applicants to use ‘OpenBanking’ link, and hence they do not NEED to have online banking. In fact, some banks do not even offer Openbanking links yet, so the old fashioned system is fine.
Has your dad actually been accepted as guarantor by anyone what i mean is (having recently gone through the application process for numerous properties) I was told EVERY TIME that any guarantor needs to be working full time and they must own their own house
May be worth finding out the criteria for guarantor to save you time and disappointment in future
That said good luck with your applications
the guarantor simply needs guaranteed income. A pension (of high enough value) is worth more to a LL than a salary because it cannot, unlike employment, be terminated. If he owns his own home and is a pensioner, he’s a safe bet.
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