Housing Hand, the UK's only secured and reliably insured guarantor service, has signed over 15,000 guarantor deeds and has covered £64 million in rental liability, in its six years of trading.
Housing Hand has also recorded a significant increase in tenant applicants over the last 12 months, up by 80%. This has been a record year, thanks to rising numbers of international students and working professionals looking for UK guarantors. Letting agent, landlord and university partners having significantly increased this year and Housing Hand now works with in excess of 4,000 accommodation providers.
Terry Mason, Group Operations Director of Housing Hand comments: “Landlords and letting agents are unable to purchase rent guarantee insurance for tenants who fail their referencing checks, such as those that are on a zero-hour contract, self-employed, contractors, international working professionals and individuals with poor credit history.
“Accommodation providers that work with us have access to a wider pool of tenants and we have seen a huge increase in applications for our UK guarantor service. We have also received great feedback from landlords and letting agents who have used Housing Hand, as it offers protection for the whole period of the tenancy. They appreciate the additional security of having Housing Hand as the guarantor, covering all aspects of the tenant’s liability, not just a rent guarantee.
“Our service as the guarantor also covers legal costs for tenant eviction and damage to the property. Housing Hand fees are paid by the tenants and there is no additional cost to the letting agent or landlord, just peace of mind.
“Over the last six years we have been standing as the guarantor for numerous tenants, many of which have defaulted. We have met all defaults and paid all monies owed to the landlord.”