My husband is going to be guarantor for my son

dancingfairy

Hi - unfortunately many people need guarantors nowadays
Having said that it's your money on the line at the end of the day. How much in total would your worst case scenario be? You might want to check that you are only liable for the first term and that if the tenancy were to be renewed you wouldn't be liable indefinitely.
Is it the money that worried you or are you annoyed about having to still support your son at his age? In terms of money would he be entitled to any benefits if he was ill and unable to work? I would have thought if he lost his job he'd get redundancy and be eligible for jobseekers, if he was ill he'd get ESA or something, income support or whatever the new equivalent is plus possibly help towards the rent and council tax - it might be worth checking it out to reasure yourself.
It might also be worth exploring why the letting agents want a guarantor as well - whether it's a credit rating thing or a standard thing etc.
best of Luck whatever you decide
df

Yorkie1

I note you said that the GF's parents would guarantee 50% of the rent. Make very sure that the paperwork your OH receives actually reflects that, rather than assuming that it is the case. I suspect that each parent will be liable for the whole amount under the terms of the guarantee.

diggle

Thank you for all your posts.
It does seem to be a recurring theme that guarantors are needed.
Having now spoken to DH we will now be looking into how long the lease is,the rental cost per month,and the length of time DS will need a guarantor.
At the end of the day,i work myself up about what happens if for any reason he could'nt pay ,so when we know the rent per month etc... we have somewhere to work from.
Apparently DS only spoke briefly to my husband about it ,he is renting with a girl who's parents are being 50% gaurantors also,they are not a couple,just renting together to get a better deal.
Hopefully when he has rented for 6months and paid rent on time he will no lon ger need a guarantor.
This was my first post and i am so grateful for all the advise and opinions.

diggle

Yes,Yorkie1,
We will check all paperwork very carefully.as for my own piece of mind i prefer everything in writing so we will have something to refer to.
Just out of interest do you own a Yorkshire Terrier by any chance?

Eton_Rifle

pleasedelete wrote: »

Last year my friends daughter started as a doctor in Liverpool. She was 24 (atleast) and earning over 50 k but had never rented a full flat before (had lived in uni then hospital digs) . She needed a guarantor.

Professional people do need them!

I suspect your friend's daughter was hiding a credit issue from her parents.

JanCee

Manchester has a huge student population & it is now standard practice to ask for a guarantor for rentals. If the OP refuses to stand as guarantor for her own son then he will probably lose the property.

The OP states that she doesn't think she should be responsible for her son now he has reached the age of majority yet still thinks she should be able to dictate whether he has a tattoo or not at the age of 26!!!

If you can't rely on your own parents for this then where else could you go?

I have stood as guarantor for my son when he was a student in Manchester and would do so again without a second's hesitation.

PasturesNew

Eton_Rifle wrote: »

That's shocking PasturesNew!

No-one's ever asked me for a guarantor, times have changed.

Anyway, despite this, if it were me, I would guarantee my own child but absolutely not someone else's unless I knew them very well indeed.

Not only is it shocking, I could have written a cheque out to buy four of the darned places I was trying to rent.

And - when I rent again I'll expect to be asked for a guarantor - and I expect to have to stump up 6 months' rent, plus all the fees..... it's actually been one of the reasons I keep putting it off. I hate to be made to feel like some lying thief type when I'm simply renting a small roof over my head.

diggle

Jancee.
On that same principle if he is old enough to have a tattoo,then he should also be solely responsible for his rental accomodation,although as i have posted i realise ,being guarantor is now the norm.
I also thought that maybe there were other alternatives available,eg a form of insurance that renters take out to insure landlords get their rent perhaps.
AS you may realise as yet we do not have the full facts to hand and i really would not like us to be Guarantor forever,regardless of being his parents for life..:D

diggle

Pastures new,
I appreciate the rental company does not know my son from Adam,but that's kind of how i was thinking as well.
like i said previously my son has always been in employment ,and whilst i'm aware the renters do not have all the facts to hand ,it feels like his guilty of possible default before he's given the chance to prove otherwise.That said i also see the "once bitten twice shy"side of the coin. I guess it's the way the worlds going ..nothing new really.

pleasedelete

Eton_Rifle wrote: »

I suspect your friend's daughter was hiding a credit issue from her parents.

She wasn't! She left uni with over 30 k in the bank from working and bought a brand new car in cash! She is a hoarder. Red mini. She worked in old folks home and then did bank work as well.

She had no social life and is a very serious woman!