Acting as Guarantor

poppysarah

DVardysShadow wrote: »

DVardysShadow is not an old or a new name for sugar daddy. I can't believe what you are suggesting. :eek::eek::eek:

LOL I meant is guarantor a new name for sugar daddy!

Brb

Unless OP's friend owns property it's doubtful she'd qualify for being a guarantor anyway.

Can I ask for a sugar Daddy too please would love 6 bed detached set in large grounds with maid service, pool boy (oh yes I'd like it to have a pool too please), chef, chauffeur, cleaners (those marble floors are a devil to keep spotless). Oh games room too please, maybe a guest house set within the grounds too ?

Back to reality:

If they are with a good LL right now I'd be tempted to say they'd be better off staying. Who knows how bad the 3 bed LL is, could start a chain of move after move and end up regretting it.

mchale

IronWolf wrote: »

I think loaning 6 months rent to pay upfront is a much better way.

Most landlords are happy to accept large amounts upfront instead of guarantors, and this way your friend knows she wont lose more money than that.

Unfortunately 6 months rent upfront does not mean anything to a LL.


OP, if your friend can guarantor her daughter then get the BF to find his own guarantor, or get daughter to take property on with just her name on TA.

IronWolf

mchale wrote: »

Unfortunately 6 months rent upfront does not mean anything to a LL.


OP, if your friend can guarantor her daughter then get the BF to find his own guarantor, or get daughter to take property on with just her name on TA.

Ofc it does, the place Im currently renting took 6 months rent upfront instead of a guarantor

G_M

IronWolf wrote: »

Ofc it does, the place Im currently renting took 6 months rent upfront instead of a guarantor

Yes, it does happen. I think mchale should have said:

Unfortunately 6 months rent upfront does not mean anything to a sensible LL.

FreddieM

After all the help and assurances given over the past 24 hours i am pleased to pass on that My friend and her daughter sat and talked, argued, discussed and came to a decision today. My friend will not be the guarantor but the partner (unemployed) has asked his own parents who have agreed to be the guarantor. Furthermore mum and daughter are now back on good speaking terms after a by all accounts a rough afternoons discussion.

Thank you all for the tips, advice and general help in what effectively could be quite a minefield.

What was most interesting was that my friend showed me an email from the letting agency addressed to her saying all she had to do was tick a few boxes and sign at the bottom so that the deal can go through.

I guess that says it all. Thank You MSE members :beer:

Brb

FreddieM wrote: »

What was most interesting was that my friend showed me an email from the letting agency addressed to her saying all she had to do was tick a few boxes and sign at the bottom so that the deal can go through.

In which case it's highly doubtful that the guarantor agreement would stand up in court.

Local LA to me also uses similar paperwork (they really don't have a clue).

For a guarantor contract to be usable in court it has to be signed as a deed. Normal contracts don't have to be because one party is signing to pay for goods/services and other party is signing to supply goods/services in exchange for payment. A contract for a guarantor is one sided as the guarantor never receives anything in exchange which is why it has to be done differently.