Foxtons is offering a third party guarantor service which, it says, helps applicants who may otherwise not meet traditional guarantor requirements.
The agency says 63% of its tenants are from overseas, so may not have established UK-based financial references or access to a traditional guarantor.
Foxtons is offering Zero Deposit’s service to conquer the problem of renters who are financially capable of affording a property, but unable to provide a traditional UK-based guarantor.
Gareth Atkins, the agency’s director of lettings, comments: “London remains one of the most competitive rental markets in the country.
“But the diversity of today’s tenant base means the ability to connect landlords with a broader pool of suitable tenants quickly and efficiently has become increasingly important.
“… Many prospective tenants who can comfortably afford their rent may not meet traditional referencing criteria. This is particularly common among international renters, students and the self-employed.”
