Acting as guarantor

hulahoop09

Hiya

In April 2011 I acted as a guarantor for my sister for her renting a house. Since then I have had one phonecall when she was late paying but no other issues since.

I am trying to get my family life in order etc and we plan on trying for another baby next year and I am already on reduced hours at work since going back in the summer after having a baby and I was wondering if it is possible to remove my name as a guarantor. We have had fall outs etc and not spoken for a while but things always seem to be okay but now my family is building I dont have the finances or mental state to deal with if she is unable to pay etc and it is really starting to stress me out!

I cant remember the name of the company it is with but I believe my mum would act as a guarantor for her if anything ever did happen.

Thank you

ADDED: Okay so just had a message off my sister (after the time I had a call I asked her to take my name off it and add my mums as I am not in a financial position to be paying if anything ever happened anymore) and she said that she had changed the name to my mums. I only have her word to take for it as there is no way of finding out for sure seeing as I cant remember the name of the letting agents.

scottishblondie

Ask your mother - she will have signed something if she has become the guarantor.

G_M

You have signed a legally binding document with the landlord. (assuming the LL got it right and Executed your guarantee document as a Deed).

Therefore only the landlord can release you from this.

You need to get something in writing from the LL (and as scottishblondie says, your mum needs to have signed a Deed with the LL too in order to 'take over').

Without this, you might find the LL still coming after you in 6, 12 months if your sister stops paying rent, causes damage etc.