Leading rental guarantor firm Housing Hand has completed the takeover of its largest rival ukguarantor.com, it has been revealed.
Housing Hand says Student Marketing Agency Ltd, which until now operated ukguarantor.com, will no longer process applications but will continue to manage existing guarantor commitments and support Housing Hand in the smooth transition of new applicants.
The deal means that Housing Hand is now by far the largest operator in the rent guarantor market, having processed 87,764 applicants since 2013. It works working with more than 3,500 accommodation providers.
“We’re living in unprecedented times and the need for guarantor services has never been more acute,” says Nick Emms of UK Guarantor. “We will be working closely with Housing Hand to ensure a smooth transition for new applicants.
“Housing Hand provide an invaluable resource for many of those who are already facing additional pressures in their lives.”
Housing Hand has taken over the relevant assets including the brand, website and new/renewal clients but the company Student Marketing Agency Limited is still under original ownership and responsible for all activities for existing and historic clients.
Housing Hand acts as a guarantor for renters who otherwise would not have one and liaises with the potential landlord or letting agent to make the necessary arrangements.
Renters who would otherwise be asked to stump up six to 12 months’ rent in advance are thus spared the difficulty of having to do so. The service costs tenants from £295.