YourGuarantor scheme for SPCE
If you are an international student and do not have a UK-based guarantor, you can still rent through SPCE without having to pay your entire rent up front. Please note that the scheme is only open to international students renting through SPCE at this stage.
SPCE has partnered with us at YourGuarantor where we can act as a rent guarantor for students renting a SPCE property. The scheme is discretionary and open to both undergraduate and postgraduate students. Please see further information below and refer to the ‘Frequently asked questions’ section.
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.
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).
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 YourGuarantor is aware that the property / landlord in question has a history of negative feedback.
- The guarantee will cost you 3.5% of the value of your tenancy / lease.
- 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 YourGuarantor.
- Apply online at www.yourguarantor.com.
- Applications will be subject to approval by the YourGuarantor.
- Confirmation of acceptance will be emailed to you.
- A certificate of the guarantee will be available online once you have paid the fee.
- 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 YourGuarantor 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 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.