The number of rental applications requiring a guarantor has doubled over the past 18 months, with almost one in five lets now agreed with a guarantor. Data from HomeLet shows the share of accepted applications needing a guarantor increased from approximately 9% in January 2025 to 18.4% in July 2026.
Guarantor usage has seen a more rapid increase in 2026, rising from 11.4% of applications in January to 18.4% by July. This trend comes as renters face growing affordability pressures, typically spending around a third of their income on rent when beginning a new tenancy.
Average UK rents reached £1,369 in July 2026. Mike Dawson, head of sales at Barbon Insurance Group, noted that guarantors are becoming more common due to affordability challenges. Overseas tenants are reportedly struggling to provide UK-based guarantors, even if they can afford the rent, with London rents increasing by 9.9% since May 2024 to an average of £2,294.