FAQs: Guarantor Replacement Service – Insure Street Agent or Landlord

What is a Guarantor Replacement Service?

This service allows the renter to register with our partner, Housing Hand, to act as their UK guarantor. As a guarantor service, they will cover the renter in the same way a working individual would so you don't have to worry about missed rent payments.

How can I offer the Guarantor Replacement Service to my applicants?

Please contact your account manager and they can activate this on your account. This will activate this option for your renters.

What is the criteria for the guarantor replacement service?

The renter must meet Housing Hand's eligibility criteria in order to qualify for the cover. This service is available for both working professionals and students.

Working professionals:

A working professional is someone who is employed or self employed. You must:

Earn at least 1.5 times share of the monthly rent
Have proof of income, for the last 3 months
Have proof of identity: a passport, provisional or full driving licence
Have proof of address evidence dated within the last 2 months
Have a Co-signer

Students:

Someone in full-time higher education. You must:

Have proof of identity: a passport, provisional or full driving licence
Have proof of study documents from UCAS or a letter from the University
Have proof of address evidence dated within the last 2 months
Have a Co-signer

What am I covered for with the guarantor replacement service?

Housing hand will cover the following as a guarantor:

rent arrears
damages and dilapidations
eviction costs
joint and several clauses

Housing Hand will provide a maximum of 12 months of cover, the renter must then renew with Housing Hand in order to extend their cover.

How can I obtain a copy of the guarantor replacement policy?

Details of the policy are available upon request by calling Housing hand on 0207 2052625.

How long will a Housing Hand application take?

When a renter submits their application, Housing Hand will contact you to confirm the tenancy details. These include:

Renter's name
Rental address
Tenancy dates
Application Type (Student or Working Professional)
Deposit amount
Rental amount
Guarantor deed

Once they have all these details, they will process and complete the application within 7 working days. If you require an application to be expedited, please contact them directly to fast-track the application.

How can I claim outstanding rent payments?

All outstanding rent payments will be paid upon invoice, within 28 days, and must be requested via email. Please send the request to defaults@housinghands.co.uk.