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Legal matters

guarantors - any advice please?

5 replies

aurorastarofbethlehem · 29/12/2010 20:20

to cut long story short, am hoping to rent 2bed house near dp for me and dd. have paid referencing fee of 260(which i could ill-afford as am lp). several family members have refused, coming up with one weak excuse after another. i am trustowrthy person but now don't trust family members to help me, i don't need financial help just them to act as guarantor - a 'silent' one, if you will.

am so Sad becasue it feels like i will lose the hosue and i realy really like it.

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aurorastarofbethlehem · 29/12/2010 20:21

also posted here

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aurorastarofbethlehem · 29/12/2010 20:21

Blush tia xx

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stoppingat3 · 29/12/2010 20:36

Not really sure what it is you are asking but as a Landlord and tenant lawyer I would never advise anyone to sign a guarantee agreement,

Whilst you say it is not financial help quite often that is exactly what it will be, If my landlord came to me and mentioned that the T had a guarantor I would normally pursue them first as they are usually in a better financial position.

They are also liable for the performance of all the obligations arising under the agreement, your DD accidentally breaks a window - they are liable, glass of wine on the carpet - again down to them as much as you.

The obligations can continue far far beyond the original term of the agreement, I recently sued a guarantor who was the ex MIL of a tenant who signed the agreement in 1998 - hugely stressful and not something I am proud of at all.

I guess what I am trying to say is that the implications of being a guarantor are huge and onerous.

Is there a way of investigating other options, rent guarantee insurance where you split the cost, a larger deposit or something similar,

I truly hope it works out for you.

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aurorastarofbethlehem · 29/12/2010 20:38

Sad will have to see the landlord i think Sad

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AnyFuleKno · 29/12/2010 20:47

I was a guarantor for someone once and was so relieved when they moved and the agreement was finished, I used to wake up in the night worrying about it. If I'd been sued it could have meant losing my own house. Don't judge your relatives too harshly, it's a difficult thing to agree to.

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