Updating post from Reddit.
Hi all, sorry if this is a stupid question but can a Co rener be a guarantor. What I mean is 2 people listed on the tenancy and one is a guarantor for the other?. Reason I ask is that my partner has some adverse credit whereas my credit report is really good. I can easily afford all of the rent on my own and was going to offer this as an option to the letting agency on our application. We are being open and upfront about it but just wanted your thoughts on whether this is acceptable. Thanks all 😊
A tenancy is typically established on the principle of Joint and Severable Liability for joint tenants. This means that if rent is not paid or damage occurs, the landlord can pursue either or both tenants for the owed amounts in full. They don't pursue you only for "your half".
Therefore, having one tenant guarantee the other offers no practical benefit, as both tenants are fully liable.
Put simply, it would be a pointless offer this to the agent/landlord.
If you dont have a 3rd party guarantor. You can look at the Guarantor Services if you have issues securing the tenancy. I don't know which is good, but for an example, Housing Hand.
The important thing to remember is that you are competing with other applicants. If you are the best applicant, you will likely be accepted, CCJ or not.
Thank you for this
I think this was on a post the other day and a guarantor should not be someone living in the property
Generally each tenant is liable for the entire rent if the other does not pay; there would not be any point having a co-guarator. Speak with the lettings agent. What kind of adverse credit does your partner have?
It was a Debt Arrangement scheme which is showing in her credit file
A guarantor is normally someone not living at the house and a home owner. A home owner is unlikely to move to another address and effectively disappear, so giving a landlord a sense of safety that the rent will be paid.
There are also companies offering service as a guarantor, although I don't know much about them. I understand a tenant pays them to be a guarantor based on the tenant being suited to their checks.
And as a landlord, I trust those services less than real guarantors because they're likely to get out high paid lawyers whenever they're called on to pay anything out.
"The energy performance certificate was not on the advert at the start of the tenancy, therefore the whole tenancy agreement is void, therefore we're not paying you the £10k arrears the tenant has built up"
I guess the landlord hasn't thought about this, and will probably accept you as the guarantor.