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Help from your local council or a local charity It may be worth contacting your local council to see if they can help you. They may be able to: help you pay rent in advance and a deposit; or. offer you a guarantor service.
The primary difference between a co-signer and a guarantor is how soon each individual becomes responsible for the borrower's debt. A co-signer is responsible for every payment that a borrower misses. However, a guarantor only assumes responsibility if the borrower falls into total default.
Guarantors are typically needed if you have a thin credit file, poor credit, or are considered low income. It's very normal to need a guarantor when applying for a flat if you are: Moving into your own flat for the first time, or otherwise have no credit or low credit. Unemployed, and sometimes if you're self employed.
Ask someone with whom you have a strong relationship and who trusts you. Your guarantor must be willing to sign the lease agreement and go through the screening process. You'll want to know if they pay their bills on time. It's essential to know they are responsible before you ask them to be a guarantor.
Before you become a guarantor, the lender will carry out a credit check on you. However, this is normally a 'soft' credit search. Soft credit searches aren't visible to other companies and won't affect your credit score. If the borrower keeps up their repayments your credit score won't be affected.