Advice on Guarantor...

JeeperUK · 22 Apr 2010 at 23:08

I have recently applied to rent a home with an Estate Agent, and after sending my details off (payslips, bank statements etc) to another company to do check, they have come back and recommended a guarantor, which has to be someone who owns their own home and has no mortgage arrears.
I spoke to them this morning and they said I passed the credit check so I can only assume that its my income which I thought would be no problem at all.

Now I have not spoke to the Estate Agent about this yet as I have just found out by going on to their website to track my application.

The problem is, I don't really know anyone who owns their own home so I'm worried that this is going to cause problems or whether there is a way round it?
I am going to call the Estate Agent 1st thing tomorrow but just wanted a second opinion from someone who maybe knows more than I do.

Thanks

mjt · 22 Apr 2010 at 23:13

Have you not got any relatives who own their home?

JeeperUK · 22 Apr 2010 at 23:14

mjt said:
Have you not got any relatives who own their home?

No, my mum used to own her own home but sold it about a month ago and now rents

Deiwos · 22 Apr 2010 at 23:19

My letting agent let me pay 3 months rent in advance instead of having a guarantor. The problem for the guarantor is they become responsible if you miss payments. It's hardly to put someone in that position so I'd see if there's an option like that available to you.

JeeperUK · 22 Apr 2010 at 23:23

Deiwos said:
My letting agent let me pay 3 months rent in advance instead of having a guarantor. The problem for the guarantor is they become responsible if you miss payments. It's hardly to put someone in that position so I'd see if there's an option like that available to you.

Ah rite, that may also be a problem as I only have what they said they would want, it would take me longer to get that money together and they only hold it for 1 month

Yeah it is hard to put someone in that position, obviously I know people who owns their own home, but not enough to ask them to do something as big as that, its a lot to ask of someone.