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Acting as a guarantor
Rastanking
Posts: 14 Forumite
Hi everyone,
I am currently acting as a guarantor for my sister-in-law, the first 6 months of the initial contract is nearly up and there has been no deferment of payments.
My question is if she signs for a second 6 month contract, even though I haven't signed anything myself am I still liable to act as guarantor?
Any help or advice anyone could give would be very much appreciated.
I am currently acting as a guarantor for my sister-in-law, the first 6 months of the initial contract is nearly up and there has been no deferment of payments.
My question is if she signs for a second 6 month contract, even though I haven't signed anything myself am I still liable to act as guarantor?
Any help or advice anyone could give would be very much appreciated.
0
Comments
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Depends on wording of guarantee and of extension but almost certainly a new tenancy would RELEASE you from guarantee whereas carrying on existing tenancy month-by-month would normally also be covered by guarantee.
Had you seen tenancy before you signed guarantee & was guarantee "enacted as a deed". If not (either) guarantee possibly not enforceable in court!0 -
You need to read (and if in doubt post here) the wording on the guarantee you signed.
It may continue for as long as the tenant remains in the property. It may not.
We are not psychic so cannot tell unless you give us a clue...0
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