Housing Hand Guarantor Scheme: In partnership with Opto Living
Thank you for choosing Opto Living as your accommodation provider.
When reserving your accommodation with us, you will be asked to select and choose from 3 payment methods, these are:
1. Full Year Payment in Advance
2. Payment in Instalments
3. Monthly Payment Plan (Mandatory to use Housing Hand)
In order to secure accommodation with us, we ask that you provide a qualified UK Guarantor. A Guarantor will sign our paperwork agreeing to pay the rent should you default on your payment. Providing a Guarantor is common practice in the UK and provides us with the security and knowledge that the rent will be paid in full and on time.
If you choose the Instalment Option, we will ask you to provide us with a qualified UK Guarantor. If you cannot provide a qualified UK Guarantor, then you can contact Housing Hand directly to provide you with the Guarantor Service. Housing Hand offers this service to UK students who cannot provide a qualified UK Guarantor. Housing Hand also specialises in dealing with International Students who cannot provide a Guarantor in the UK.
If you are choosing the Monthly Payment Plan option, you will need to use Housing Hand as your rent guarantor. You can apply for Housing Hand guarantor service to register for the service. Housing Hand will charge the equivalent of 80% of a month’s rent in order for the company to act as your UK legal guarantor.
Housing Hand will refund up to 45% of this fee at the end of tenancy as long as your account has not been in default during the cover period.
How to apply for Housing Hand Guarantor Service
Upon completion of the booking with Opto Student Living, you will be required to apply to Housing Hand Guarantor Service separately on http://www.housinghand.co.uk/apply.
Housing Hand officers will then contact with you directly to complete your application.
Once the student finalises their application with Housing Hand, they will contact with Opto Living offices and sign your guarantor deed. Please note that Housing Hand will not be confirmed as your guarantor nor will your room be confirmed with Opto Living until you are provided with all the documentation by Housing Hand.
For more information on eligibility and fees, please look at FAQs. If you have any other queries you can contact Housing Hand directly.
For International Students:
A copy of your passport and university acceptance letter (or student card). You will also need a co-signer who will sign the agreement with Housing Hand. This is normally a parent or guardian. The co-signer will need to provide a copy of their passport and proof of address.
For UK Students:
A copy of your passport and university acceptance letter (or student card). You will also need a co-signer who will sign the agreement with Housing Hand. This is normally a parent or guardian. The co-signer will need to provide a copy of their ID and proof of address.
Who is Housing Hand?
Housing Hand is the UK’s only Guarantor Service provider for students and working professionals who are unable to provide an adequate guarantor.
How much does the service cost with Housing Hand?
Housing Hand charges a one off fee for The Guarantor Service equivalent to 80% of a month’s rent. Up to 45 per cent of this is returned to you at the end of your tenancy, subject to the length of your tenancy, terms and conditions apply.
I am an International Student and do not have a UK Guarantor.
Housing Hand specialises in working with International Student and will be able to act as your UK Guarantor. For any further queries you can contact Housing Hand directly.
Why do I need a Guarantor?
All students who wish to pay their rent Monthly or by using an Instalment plan are required to provide a qualified UK Guarantor. This provides us with the security and knowledge that the rent will be paid in full if should you default on payment.
What does being a Guarantor mean?
A Guarantor is a responsible and agrees to pay any outstanding rent and associated rent recovery costs for the tenant they are guaranteeing. It is a legal document and should not be signed lightly.
Can you explain more about the relationship between Housing Hand and Opto Living?
Housing Hand works in partnership with Opto Living to stand as your UK rental guarantor. Opto Living requires all students to have a guarantor if you are not able or willing to pay your rent in full for the year. If you choose the instalment plan option and can provide your own UK guarantor, providing they qualify, then you do not need to use Housing Hand. If you choose the instalment plan option and cannot provide a qualified UK guarantor, then Housing Hand will be able to provide this service for you.
I want to pay my rent monthly.
All students who want to pay their rent monthly will need to apply to the Housing Hand Guarantor Service. Please note that Housing Hand will charge a one off fee for The Guarantor Service equivalent to 80% of a month’s rent. Up to 45% of this is returned to you at the end of your tenancy, subject to the length of your tenancy. Terms and conditions apply.
How do I apply for The Housing Hand Guarantor Service?
You can apply Housing Hand through http://www.housinghand.co.uk/apply
Am I eligible to apply for the guarantor service with Housing Hand?
Housing Hand requires that you provide the following documentation to be eligible for The Guarantor Service: