YourGuarantor scheme @ Kings College London
To help students without a UK guarantor, YourGuarantor are able to act as a UK rent guarantor for Home, International and EU students renting in the private sector. Please read the gualifying critieria below carefully and check that the agent / landlord will accept this scheme before applying. You can check your eligibility for the scheme by referring to the tables below
Many private landlords and letting agents request that a third party acts as a guarantor for the rent before they will agree to let a property to a student. This will usually be a parent or a guardian.
Landlords will usually require a UK based guarantor, which can often be a problem for overseas students. UK Citizens may also experience difficulties if they do not have a family support network or their parents earn under the arbitrary threshold set by the agent to act as a guarantor.
If you do not have anyone who can act as your guarantor in the UK, landlords and letting agents may ask you to pay more rent upfront (generally 6-12 months).
Guarantor Scheme for Home, International and Eu Students
Am I eligible for the scheme?
|Level of study?||Criteria to be met in order to be eligible||Rent allowance: up to £1,500 per month|
|Undergraduate Foundation Year students||Not eligible for YourGuarantor Scheme|
|Undergraduate first year students||
||Your private rented tenancy can be for up to 12 months from the end date of your foundation year|
|Undergraduate second year and Undergraduate placement year students||Must have completed Year 1 (or Year 2 if doing placement year) at the end of teaching of the 2nd term of a full-time Undergraduate programme at Kings||Your private rented tenancy can be for up to 12 months from the end date of your first year (or second year if doing a placement)|
|Undergraduate Final Year students||Must have completed Year 2 (or placement year at the end of teaching of the 2nd term) of a full-time Undergraduate programme at Kings||Your private rented tenancy can be for up to 12 months ending no later than 31 August of the year you are due to graduate|
|Students completing one year at Kings as part of an Exchange/Study Abroad programme||Must be studying at Kings for one year as part of a multi-year non-uk degree course||Your private rented tenancy must be between enrolment and UK course finish date|
Postgraduate Students (Taught and Research)
|Level of study?||Criteria to be met in order to be eligible||Tenancy allowance|
|Postgraduate first year students doing a 1 year course||None||Your private rented tenancy can be for up to 12 months from the end date of your previous course at Kings or from the day you enrol at Kings. The end date of your tenancy can be no later than the end of the month following the month of your graduation|
|Postgraduate first year students doing a course of more than 1 year||None||Your private rented tenancy can be for up to 12 months from the end date of your previous course or from the day you enrol at Kings.|
|Postgraduate Returning students||None||Your private rented tenancy can be for up to 12 months from the date your previous academic year finished|
|Postgraduate Final Year students||None||Your private rented tenancy can be for up to 12 months ending no later than the end date of your course (If your course is taught / research) or the end of the month following the month of your graduation|
Student Advice role in the guarantor process
The Student Advice Service are not involved in the administration of the YourGuarantor scheme but our Housing Advisors can advise you in confidence, if you experience problems during your tenancy or wish to discuss this option before committing to it.
Student Services Administrators will alert us if they are notified by a Landlord that a rent payment was missed. We will contact you to offer assistance, which you are under no obligation to accept. You can also seek help and support from University of London Housing Services.
FREQUENTLY ASKED QUESTIONSWhat does the scheme cover?
- The scheme covers rent arrears only.
- The guarantee is only applicable to Assured Shorthold Tenancies.
- YourGuarantor is able to guarantee rent per person up to a maximum of £1,500pcm.
- YourGuarantor reserves the right not to approve applications where we are aware that the property / landlord in question has a history of negative feedback.
- The guarantee will cost you a percentage of the value of your tenancy/lease – 3.5% for International/EU students and 6.5% for Home students.
- You can estimate the cost using the calculator on the YourGuarantor website.
(Value of the lease = monthly rent x number of months of the lease). In shared accommodation this will equal the individual students’ share of the value of the lease.
- The scheme is delivered and administered by YourGuarantor.
- Apply online at http://yourguarantor.com/kings-college-london/.
- Applications will be subject to approval by YourGuarantor & the Landlord/Agent.
- Confirmation of acceptance will be emailed to you at which time you can pay for the service.
- Once you have paid the fee the guarantee document will made available to the landlord / agent online.
- A sample of the guarantor terms & conditions are available to download from http://yourguarantor.com/landlord/.
- You are not aware of any current circumstance that would prevent you from satisfying all your responsibilities, as set out in the proposed tenancy agreement.
- You understand that, although YourGuarantor will act as Guarantor, you will remain liable for any losses, damages, expenses and/or costs that the Landlord would normally be entitled to recover.
- You understand that any rent paid out on your behalf or additional costs incurred by YourGuarantor under any Guarantee they may provide on your behalf shall remain your responsibility until settled in full.
- You understand that YourGuarantor may, at their own discretion, appoint a third party to recover any losses on its behalf.
- You will notify the Landlord & YourGuarantor as soon as you become aware of any circumstance, or potential circumstance, which could affect your ability to satisfy your responsibilities under the proposed tenancy agreement.
- You undertake to cooperate with YourGuarantor as required in order to minimise their liability under any Guarantee that they provide on your behalf and understand that this may mean vacating the rental property if the rent is in arrears.
- You understand that by accepting the Guarantee offered by YourGuarantor, you are confirming acceptance & understanding of the responsibilities set out in these commitments.