Housing Hand - Guarantor Services

Housing Hand: Guarantor Services for Tenants

Apply to Housing Hand Here

Finding your perfect rental property is exciting, but the paperwork can sometimes feel a bit overwhelming—especially if you are a student, an international resident, or don't have a family member in the UK who can act as a guarantor.

At Purple Frog, we want to make your move as smooth as possible. This guide explains how Housing Hand can step in to help you secure your new home.

What is a Rent Guarantor?

A rent guarantor is a person (usually a family member) who signs a guarantor agreement and agrees to pay the rent if you are unable to.

Landlords usually ask for a guarantor to provide a "safety net." To qualify, a guarantor typically needs to:

• Be a UK resident.
• Earn a minimum annual income (usually 42x the annual rent, minimum of £25,000 per year, or have a suitable amount in savings.

The Problem: Many tenants find it difficult to provide a "qualifying" guarantor, particularly if their family lives abroad or doesn't meet the income criteria.

What is Housing Hand?

Housing Hand is a third-party guarantor service. Instead of asking a family member to sign, you pay Housing Hand a fee to act as your official UK guarantor.

They are an established and trusted service that Purple Frog works with regularly to help tenants move into their chosen properties without delay.

Who can use this service?

• Students: Particularly international students or those whose parents don't meet UK income requirements.
• International Tenants: Individuals moving to the UK for work who lack a UK-based credit history.
• Working Professionals: Anyone who doesn't have a qualifying homeowner or high-earner to support their application.

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How it Works: Step-by-Step

Using Housing Hand is a straightforward process that runs alongside your Purple Frog application:

Application: You apply directly through the Housing Hand website. You'll need to provide details about yourself, your prospective tenancy, and your financial situation.

Assessment: They will assess your application. This is usually very quick.

Payment: You pay a fee (either upfront or in instalments) for them to provide the service.

A Co-Signer: There are different options, Housing Hand may ask for a co-signer, but they don't need to live in the UK or meet the same requirements that Purple Frog require.

The Agreement: Once approved, Housing Hand provides a legally binding agreement to Purple Frog. They effectively "co-sign" your tenancy.

Moving In: Once the paperwork is sorted, you're all set to move into your new home!

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Important Things to Remember

While Housing Hand is a great solution, there are two key things to keep in mind:

1. There is a Fee

Housing Hand charges a fee for their service, which is usually a percentage of your annual rent. Most tenants choose to pay this in a one-off payment, but monthly instalments are often available.

2. You are still responsible for your rent

A guarantor service is not "rent insurance" for you. You are still legally responsible for paying your rent every month.

Warning: If you default on your rent, Housing Hand will pay the landlord, but they will then legally recover that money from you.

Apply to Housing Hand Here