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Letting agency charging £150 'Guarantors Fee'


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My daughter is just renting a flat in Glasgow and the letting agency want £150 as a fee for them to check my references and credit worthiness. I don't have a problme with them doing these things but don't see why I should pay for it. Is it legal for them to charge this?

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My daughter is just renting a flat in Glasgow and the letting agency want £150 as a fee for them to check my references and credit worthiness. I don't have a problme with them doing these things but don't see why I should pay for it. Is it legal for them to charge this?

It is totally legal. You need to pay because you have no other acceptable way of proving that you are a suitable person to be accepted as a guarantor. And if you are not accepted - your daughter won't get her flat :(

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Seems a bit extortionate, as it only costs about £50 to do and its usually the prospective tenant not the guarantor that pays

I QUESTION THEREFORE I AM!! [sIGPIC][/sIGPIC]

 

Unfortunately i'm not an expert in any given field legally and my advice and that of the Consumer Action Group and the Bank Action Group is given without prejudice and without liability so please if in any doubt whatsoever seek help from an insured qualified professional. Contents of my posts are purely my own personal opinions and not condoned or endorsed in any way, shape or form by CAG. Thank you! :p

 

 

I have been smoke-free for 4yrs

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Well, I suppose you should ask your daughter to pay the money. I just agreed to be guarantor for my brother, and he paid the fee ("only" £50).

 

£150 is excessive and profiteering.

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this fee sounds as though its for setting up the Tenancy Agreement searches and this also holds the property whilst this is going ahead. our one off fee covers up to 6 people to be checked, ie myself OH and guarantour etc

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