Likelihood of being accepted as guarantor

Landlord Discussion
1

My daughter is currently trying to find a property to rent. She is struggling to find a guarantor who earns over 45k which is the level of earnings needed.

I have much lower income and not a great credit score but I am a homeowner. However the house I own is shared ownership with a housing association. Does this count as a home owner? How likely am I to be accepted?

If I fail to be accepted what are her options? She has money up front but apparently this is not enough and a guarantor will be needed but we simply do not know anyone who earns enough!

2

You don’t meet the criteria, so unlikely.

There are companies that provide a guarantor service which may be accepted.

3

What is the criteria? It seems that it’s down to the landlord ?

4

You said that they need to earn over £45k? Although technically set by landlord, if they use a certain type of insurance then its this that sets the criteria that the landlord follows.

Income requirement typically 3 x rent. Do you have CCJS? This would also be a problem.

Google “guarantor service”.

5

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