A guarantor is required to complete an application form and submit this to us with the requested documents. There is a fee of £32 for the guarantor application which must be paid when submitting the application. The referencing will be carried out by an external referencing agency and can take between 24 and 72 hours to be processed.
The guarantor will be required to sign a Deed of Guarantee on successful completion of the application and this must be witnessed by a Solicitor. Our in house Solicitor can witness this at a cost of £25.
A guarantor is usually required for the following reasons as the applicant(s):-
- may have a CCJ or poor credit history.
- may not been in continuous employment with the same employer for at least 6 months.
- may have sufficient income but other draining financial commitments.
- one applicant may be under 21.
For further information please contact us.
