Membership of the Tenant Guarantee Scheme is
a demonstration of your good standing as a tenant. Before accepting
anybody
into membership we make credit checks. The cost of these
is covered by our non-refundable application fee. We do not
refuse membership lightly, but if you believe you do not
meet the membership criteria set out below, we advise you
not to apply.
Tenancy
A tenancy must be an Assured Shorthold Tenancy as defined
in the Housing Act 1988 or the Housing Act 1996 or the
2004 Housing Act and corresponding legislation in Scotland
and Northern Ireland and any amending legislation. (see below
for other tenancies)
Rent
Our standard cover does not guarantee tenants where
the rent payable is more than £25,000 per year. However,
we can cover rents in excess of £25,000 at a higher cost
(contact us for details).
Age
All tenants must be at least 18 years of age.
Couples
Recent changes in the Data Protection Act mean that each
individual is now given their own credit score so a ‘couple’ must
submit two individual applications.
The only time a couple can be on the same application form
is if they are married and the main wage earner is paying
the full rent and it is only their salary which is being
taken into account, then only Mr and Mrs……..
need be put on the application form.
Income to rent ratio
An individual applicant requires a gross income of approximately
two and a half times the rent (the multiple is lower for
higher income earners). If lower than this membership may
still be possible if the applicant has a guarantor. To
be accepted guarantors must have a gross income of three
times the rent. The precise criteria used are set out in
the affordability calculator below.
Persons who have lived abroad
or who are foreign nationals
Persons who have lived in the UK for less than 9 months or
lived abroad for more than one year must provide a copy
of their passport and proof of employment or, for new workers,
an appointment letter showing name, annual salary, start
date, if the job is permanent or for a set period of time
(that must cover the rental period).
Guarantors
They must be a UK resident. Their income must be at least
three times the tenant’s
share of the rent if they are the only guarantor for one
person. If a guarantor is standing for more than one person,
their income must be at least three times the entire rent.
All students need a guarantor.
If you are a student or do not meet our membership criteria
set out below you can still join the scheme so long as you
can provide a guarantor that does.
This being
the
case
please
ask your guarantor to complete our guarantor application
form.
Proof of residency
If an applicant is not shown on the electoral roll at any
of their addresses within the last two years they will
need to provide proof of residency showing the applicants
name and address as per the application.
The only acceptable proofs of residency are:
Utility Bills
Council Tax Bills
Telephone or Mobile Phone Bill
Credit Card Bill (Visa, MasterCard, Dinner or Amex)
Council Letter stating date from - to on voters roll
HM Revenue & Customs Tax Credit Award or
Current Police Gun Licence.
The applicant will need to provide four items: two forms
of different proof from the above list, in each case both
one less than three months old and one five to 12 months
old.
