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The YourGuarantor Scheme

 

Disclaimer: Applications for this scheme are currently on pause. YourGuarantor is awaiting updates from their insurers who have temporarily paused the project and it is difficult to predict when service will resume, but once it is, we will update this page. 
 

Newcastle University Students’ Union have introduced the YourGuarantor Scheme to support students who don’t have access to a UK based guarantor when renting in the private sector. This is a resource which will significantly benefit our students who are usually expected to pay for their rental accommodation up front. At NUSU, we want to help our students with a reputable and reassuring partner, one that has established official relationships with various other UK universities; and who are authorised and regulated by the Financial Conduct Authority. YourGuarantor acting as the students’ guarantor is a fantastic option which will mean students won’t have to pay for their rent upfront, which has created barriers for many students in the past'?

 

General Info.

Before you move into private accommodation, most landlords or lettings agencies will ask you for a guarantor. This is someone who will pay your rent if you fall into debt whilst studying at Newcastle University.

Newcastle University and YourGuarantor have partnered up to provide a UK guarantor for students who qualify.

YourGuarantor can do this under the below tenancy conditions

  • covering a maximum of £1500 per person, per month rent, no other debts
  •  assured short hold tenancies (a typical type of tenancy in the UK)
 

The Cost

To act as your guarantor, YourGuarantor will charge you a percentage of the value of your tenancy or lease:

  • 3.5% for overseas or EU students
  • 5% for UK students.

3.5% of a £95 per week rent = £173 

Before you apply you must:

  • not be in a situation that would affect you paying your rent on time
  • understand that you are responsible for all costs, such as replacement keys or property damage, as well as rent payments
  • know the address of the property you want to live in
  • know the name and email address of the landlord or letting agent
  • know the start and end dates of your tenancy
  • know the total amount of rent for this period
 

Are You Eligible?

Undergraduates

You are in your second or placement year and:

  • you have completed your previous academic year of study at Newcastle University before the start of your new housing contract
  • you plan to live in private housing for up to a year from the end date of your first or second year if doing a placement

You are in your final year and:

  • you have completed year two or a placement in the last academic year
  • 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

You are in your first year as an exchange or study abroad student and:

  • you are studying at Newcastle University for a non-UK degree that is longer than one year
  • your tenancy is between when you start and finish your UK course

Postgraduates

You are a first year postgraduate student and:

  • your tenancy ends before the end date of your course at Newcastle
  • your tenancy starts within a year of completing your previous UK course or once you have enrolled in your postgraduate course

You are a returning postgraduate student and:

  • your tenancy ends within 12 months of completing your previous academic year

You are a final year postgraduate student and:

  • your tenancy is for up to 12 months and ends before the end of your course
 

How to Apply?

Applications are temporarily on pause from YourGuarantor. We will update this page once we have any significant updates on the scheme resuming. You can find out more about the scheme by following this link

 

To discuss any housing matter, including the various guarantor options, please arrange an appointment with the Student Advice Centre Housing Adviser on level 0 of the Students’ Union. 

 

Frequently Asked Questions

  • The scheme covers rent arrears only.
  • The guarantee is only applicable to Assured Shorthold Tenancies.
  • YourGuarentor is able to guarantee rent per person.
  • YourGuarentor reserves the right not to approve applications where it is aware that the property/landlord in question has a history of giving negative feedback, as advised by Homestamp or Banes City Council.
  • YourGuarantor guarantee will cost you a percentage of the value of your tenancy / lease – 3.5% for Overseas/EU students and 5% for UK 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 YourGuarantor
  • Apply online at www.yourguarantor.com/newcastle-university
  • Applications will be subject to approval by 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 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 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 understand that by accepting the Guarantee offered by YourGuarantor, you are confirming acceptance & understanding of the responsibilities set out in these commitments.