Rent
Direct Debit
Automated payment collection on due date (autodebet)
Monthly, quarterly, termly (academic term)
UK bank account required (Lloyds, Barclays, HSBC)
May require a guarantor
Advantages
You can divide the payments, so you don’t need to pay a large amount of money in one payment.
Disadvantages
The total amount of money that you need to pay increase, because of the interest rate of the rent. Carefully read the detail of interest in the contract!
Additional fee for people who use Guarantor Service.
It is hard to find people who willing to be a guarantor.
Direct Payment
Visa, Mastercard, AMEX, JCB (online)
Bank transfer
When to pay?
Immediately after you sign a contract and before the start of the rent date or the date that stated in the contract.
How?
In the contract you will get the amount of money that need to be paid. The payment need to be done in one transaction (doesn’t rule out the possibility to have more than one transaction).
Requirements?
Bank Transfer
Credit Cards
Evidence of Transaction
Doesn’t need to be UK Bank account
Advantages
No additional expenses
No additional work
Disadvantages
Spend a lot of money in one transaction
Prone to a big problem, if there’s an error while doing transaction
Direct Debit - Guarantor
In order for you to guarantee that you are able to pay all the Direct Debits payment, a guarantor is needed.
Guarantors act as the party who is responsible if you are not able to pay the direct debit at a certain time.
Who can be a Guarantor?
It should be a UK Resident who is willing to do it for you.
Common requirements for Guarantor (depends on the landlord):
Have a legit job
Currently live in UK
Have a property in UK
Not retired (some landlord asks for this)
From relatives or family (some landlord asks for this)
Can’t find a Guarantor?
Use a Guarantor service such as: Housing Hand
Some agent usually provides an option for guarantor service.
This service requires you to pay additional fee for the Guarantor.
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