Would a potential landlord require a guarantor if the renter has £3,500 in savings? | LawHive - Solicitors & Lawyers Online
Would a potential landlord require a guarantor if the renter has £3,500 in savings?
Hi, as the title says I'm looking to move back to Scotland and rent a flat. I'm currently living abroad (France) and don't have a job lined up (I work in service and food industry, hard to do a test shift from here), however I have £3.5k in savings which would cover several months of rent and bills (budget is £400/month + bills). A few potential landlords have understandably asked for a guarantor. Would I still need a guarantor for rent or would proof of these savings be enough? I'll obviously get a job once I'm in Scotland, it's just a bit complicated doing it from abroad especially as I don't know my move-in date yet.

Sean Troutman

19th October 2021

2 upvotes

Top Answer
It's up to them what they will or won't accept. If they are happy to accept proof of savings, they can, if they aren't, they don't have to. It's a matter for negotiation between the two of you.

Helen Green

11th February 2022

3 upvotes

Completely depends on the landlord. In my experience (as a housing adviser), they will usually either want a guarantor or payment up front for a certain number of months - they cannot ask for more than 6 months' upfront in Scotland.

Loretta Hyden

11th February 2022

2 upvotes

You have no proof of earnings, therefore you will fail most affordability checks for rental agents. Given this, you are normally given two choices - a guarantor, or 6-months upfront payment of rent.

James Bronson

11th February 2022

3 upvotes

This page contains user-generated content and is provided for general informational use only. Unless otherwise indicated, answers are provided by non-qualified (NQ) lay members of the public. Please read our Terms for more information.

If you have feedback on this question please contact support@lawhive.co.uk

Get legal help the hassle-free way

We have expert solicitors ready to resolve any type of legal issue in the UK.

Remove the uncertainty and hassle by letting our solicitors do the heavy lifting for you.

Get Legal Help

Takes less than 5 mins