What is a Rent Guarantor?
A rent guarantor is someone, an individual or an institution, that agrees to pay the rent on behalf of a tenant who defaults on their rental payments. In the UK, most accommodation providers will ask students to provide a UK rent guarantor to protect them in the event of non-payment. Where students cannot provide a guarantor, they will, in the main, be asked to pay most, if not all, of their rent in advance. YourGuarantor can act as UK Guarantor for university students. Through our bespoke insurance products we can also enable institutions to act as guarantor or, in the case of accommodation providers, insure them directly removing the need for them to require a guarantor.
BESPOKE INSURANCE TAILORED FOR UNIVERSITIES AND PBSAGreat Lakes Insurance SE are authorised by Bundesanstalt für Finanzdienstleistungsaufsicht and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. They enjoy the strong rating and financial strength of Munich Re Group: A+ (superior) as rated by A.M. Best and AA- (very strong) by S&P.
WHATWe specialise in the UK higher education accommodation sector, with students at the heart of everything we do. We are driven by innovation and provide market leading solutions for both university students and accommodation providers.
HOWWith access to market leading rent protection products delivered efficiently through technology, we’re able to distinguish ourselves from competitors. Our platform provides for same day completion supported by our client team who are on hand to support you through the process.
WHOYourGuarantor (ref: 679996) are appointed representatives of Legal Insurance Management Ltd (ref: 552983) who are authorised by the FCA. Their policies are underwritten by UK General Insurance Ltd on behalf of Great Lakes Insurance SE.
Great Lakes Insurance SE are authorised by Bundesanstalt für Finanzdienstleistungsaufsicht and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. They enjoy the strong rating and financial strength of Munich Re Group: A+ (superior) as rated by A.M. Best and AA- (very strong) by S&P.
RENT GUARANTOR SCHEME FOR UNIVERSITY STUDENTS
We act as a UK Guarantor for students attending our partner universities, and our platform manages the administration of the scheme end to end. Applications, verification, document issuance and account management are all handled through the platform. Our client team are on hand to handle queries from students and landlords. *iContact Us
STUDENT ACCOMMODATION PROVIDERS
Our rent protection products eliminate the need for accommodation providers to ask for a guarantor. This enables providers to offer payment instalment options to students without a guarantor and removes all administration & costs involved in referencing and pursuing guarantors n the event of default.Contact Us
University owned/managed halls
We can provide bespoke rent guarantee insurance solutions to UK universities that own or manage halls.
Please contact us for more information.Contact Us
improved access to accommodation
- Ability to pay by instalments
- Financial security
- Same day completion (subject to landlord verification)
- No requirement to provide a co-signer
deliver against student demand
- Provide a solution through a trusted partner
- Enhance the student experience
- Enhance the university reputation
- Attract and retain more students
- Security & speed of payment
- Same day completion
- Reduction in default rates
- Reduction in administration
- Reduction in costs
- Improving the tenant experience
Kent introduced the Your Guarantor scheme to support students lacking a UK based rent guarantor to transition into the private rented sector. It is particularly relevant for those students who face a major financial barrier renting private accommodation in the local community. Students seeking to rent privately often turn to the University for advice and support and the Your Guarantor scheme allows us to refer them to an external company operating an insurance backed guarantor scheme. The scheme web site is very easy for students to access and use, enabling them to obtain a guarantor certificate within just a few hours, once they find suitable private accommodation within their budget once they meet the requirements of the scheme
Derek Goss, Student Accommodation Manager at The University of Kent
We have enjoyed two years of working with YourGuarantor providing a valuable and value for money service to our EU and International students. The implementation of the new YourGuarantor model has retained all of the benefits for our students whilst reducing the administrative aspect that the University previously supplied. It has been a great improvement to the service.
Darren Baker, Head of Customer Service – Estates & Campus Services at The University of Essex
The YourGuarantor model allows us to help students who previously had no option other than paying all, or a large chunk, of the rent upfront without adding to the administrative duties of accommodation staff here at the University of Bath.
Michael Grace, Student Accommodation Co-ordinator (Private Sector & Partnerships) at The University of Bath
Newcastle University Students’ Union have introduced the Your Guarantor Scheme to support students who don’t have access to a UK based guarantor when renting in the private sector. This is a resource which will significantly benefit our students who are usually expected to pay for their rental accommodation up front. At NUSU, we want to help our students with a reputable and reassuring partner, one that has established official relationships with various other UK universities; and who are authorised and regulated by the Financial Conduct Authority. YourGuarantor acting as the students’ guarantor is a fantastic option which will mean they wont have to pay for their rent upfront, which has created barriers for many students in the past.
Sarah Craggs, Welfare & Equality Officer at Newcastle University Students Union
We have identified YourGuarantor as a key partner, particularly in the context of our overseas audience. The process is simple, fast and effective - all of which are primary components of the SPCE user journey
Omar Fahmi, CTO and Co-Founder of LiveinSPCE
YourGuarantor has done all of the groundwork to alleviate rental risk for landlords, whilst ensuring that their properties are more easily accessible to overseas students who choose to rent through SPCE
Leon Ifayemi, CEO and Co-Founder of LiveinSPCE
Brunel University London is always seeking to find ways to solve any problems that our students might have, and YourGuarantor helps us do that, by allowing our international students to pay for their off campus accommodation on a monthly basis rather than up front – thus relieving some of the financial pressures that they face.
Professor Andrew George, Deputy Vice Chancellor (Education and International)
The Student Union supports the YourGuarantor scheme; we think it will be of great help to international students who sometimes struggle to find accommodation because they do not have a UK-based guarantor. YourGuarantor has #gotyourback.
Ranjeet Rathore, Brunel University London Student Union International Officer
This is a cracking idea to solve the problem for students who struggle to find a UK guarantor.
Alex Kirsch, Durham University Student, Van Mildert College, 2nd year
At the University of Essex we are committed to providing the best possible experience for our international students. We recognise the difficult situation that may arise when they are asked to pay their full rent in advance, which is why we are delighted to be able to help our students with the YourGuarantor service.
Christopher Oldham, Director of Essex Campus Services, University of Essex
KCLSU is really happy to see that King’s are recognising the importance of supporting our international students. As we focus on internationalising our student cohort even further, it is important we are putting in the right mechanisms to ensure they can afford to stay here. It is also an essential way of saying that we value our international students that come to study at King’s.
KCLSU officers, KCL
Having originally come from Singapore, I experienced this issue first hand, I would have happily paid the fee instead of the 12 months up front. This is a simple way for university students to access a UK Guarantor for a fraction of the costs charged by high street providers, no brainer.
Patrick McConnell, former President of Van Mildert College, Durham University
Not only is YourGuarantor safer and significantly cheaper than other guarantor providers, by partnering with universities it provides a more trusted option for our international students.
Simon Povey, President-Elect of Van Mildert College, Durham University
This is an impeccable news for all King’s students. Having an international rent guarantor scheme means more satisfaction and living security for international students. This progression shows that KCL and KCLSU are always working together to improve the experience of international students at Kings in a better way and that Kings is always there to support its students in any way possible.
Momin Saqib, International Student Officer, KCL
I think it’s a very, very good idea and I don’t think 3.5% is too much.
Daniel Ball, Durham University Student, Van Mildert College, 2nd year
The requirement to provide a UK guarantor in order to rent a property has been a rising problem for International students over the last few years, we’re really pleased that KCL has taken a positive step towards supporting our students’ needs by launching the scheme.
Aagje Sleightholme, Student Housing Advisor, Student Advice Service. KCL
Market leading products come with market leading insurers.
Our insurer is rated AA- (Very Strong) by S&P and A+ (Superior) by A.M. Best.
Our platform provides for same day completion (subject to landlord confirmation). We are the only regulated entity offering rent guarantor products for students in the UK and therefore you can rest assured that we operate to the highest standards as required by the FCA. We do not require a co-signer.Learn More
Our base cost is usually 3.5% of the value of the lease (overseas students), up to 50% less than high street providers. We are always transparent with our pricing and students will always know the cost before they make an application.Contact Us