Kings College YourGuarantor Scheme
To help students without a UK guarantor, King’s has partnered with YourGuarantor to be able to act as a UK rent guarantor for Home, International and EU students renting in the private sector.
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 international students in particular.
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
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||Must have completed one of the following in the last academic year:
||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. The end of the tenancy must not surpass the end date of your course at Kings|
|Postgraduate first year students doing a course of more than 1 year||Must have completed one of the following in the last academic year:
||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|
Student advice role in guarrantor 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.
- The university is able to guarantee rent per person up to a maximum of £1,500pcm.
- The university reserves the right not to approve applications where university is 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 will be administered by King’s College London Student Services.
- Apply online at http://yourguarantor.com/kings-college-london/.
- Applications will be subject to approval by King’s College London Student Services.
- Confirmation of acceptance will be emailed to you.
- A certificate of the university’s guarantee will be available online once you have paid the fee. You must confirm with the landlord / managing agent that they are happy for the university to act as guarantor prior to applying for the scheme.
- A sample of the guarantor terms & conditions are available to download from http://yourguarantor.com/kings-college-london/.
- 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 the university 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 the university under any Guarantee they may provide on your behalf shall remain your responsibility until settled in full.
- You understand that the university may, at their own discretion, appoint a third party to recover any losses on its behalf.
- You will notify the university and landlord 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 the university 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 must establish the landlord / managing agent’s acceptance of the university guarantee prior to making an application (a sample of the rent guarantor document can be downloaded from www.yourguarantor.com).
- You understand that by accepting the Guarantee offered by the university, you are confirming acceptance & understanding of the responsibilities set out in these commitments.
- Where a rental payment is missed the Landlord / managing agent must notify the university with 14 days.
- Student Services will contact you to establish the circumstances surrounding the missed payment and offer an appointment with a Student Housing Advisor to advise and assist you.
- When the payment becomes overdue by 31 days the university will instigate payment to the landlord (Payment can take up to a further 31 days from this point).
- As stated above in points 3 & 4 of the Students Responsibilities & Commitment, the university reserves the right to recover costs in the event of payments made but we will not impose sanctions for the recovery of any payments made on your behalf as this would contravene the Office of Fair Trading guidance which states that imposing sanctions while trying to retrieve non-academic debt would be unlawful.