UK: PBSA provider Collegiate UK has partnered with Howden Insurance and Your Guarantor to introduce instalment payment scheme.
Collegiate says the move addresses a challenge faced by overseas students and those without guarantors who are unable to secure PBSA accommodation without paying for a private guarantor service or covering rent upfront.
The new scheme allows students to pay in four instalments via an automated guarantor service or in full upfront.
PBSA operators can now confirm room bookings instantly without requiring a personal guarantor, while ensuring that unpaid rent is recoverable.
Collegiate managing director Neil Burton said: “Students booking with Collegiate UK now enjoy a seamless, automated booking journey, ensuring their accommodation needs are met without unnecessary hurdles, while also helping to reduce our administrative time and costs.”
A Your Guarantor spokesperson added: “Having delivered a rent guarantor service for over a decade, we understand the challenges students and PBSA providers face. Partnering with Howden has allowed us to introduce an affordable, integrated solution that benefits both groups. Innovation is key in competitive industries, and this service offers a clear advantage.”
