Being a Guarantor for my Ex!

6feet

BeingThere wrote: »

@Dunroamin
Thanks for that I wasn't sure if they just paid the £625.

Could we agree with the landlord that he increase the rent to £625 and then be lenient with the guarantor contract terms? He'd have an extra £150 over 6 months after all!

Or do HB look at the rent as originally advertised?

Yeah, great idea, charge the hard working taxpayer even more for your families free housing :mad:

monty-doggy

I guess it would depend on the LL re the damages however don't forget if she burned the place to the ground and you don't have the money to re pay, they can't get blood out of a stone. I am sure she won't damage what is going to be her home, no one is that spiteful (you would hope)

No it shouldn't be anything to do with your credit file, I have rented for 15 years and never had it put on my credit file ever.

sharp910sh

BeingThere wrote: »

Sounds crazy right? I'll keep this explanation as short as possible - the condensed version!

My partner and I have 1 child together and she has 1 child from a previous relationship. All 4 of us live in the same rented property. We separated a few months back and are still living together.

The plan is that she moves out with the kids and I'll go find my own place. I work. She'll be on Housing Benefit. The plan is good... except everyone keeps asking her for a guarantor!

Now, for one reason or another, all of her family members are unable to do this. She has a friend that was willing to do it, but he has recently moved away. The choices seem to be

1. We find a landlord that doesn't require a guarantor
2. I be the guarantor

I have no ill feeling at this point and want only what's best for her and the kids but I have obvious reservations. I'll address both points below

1. We have found a property that falls below the Housing Benefit payment (HB is £625 p/m - we've found one for £600)
a) If HB was paid directly to the LL there's no need for a guarantor, right?
b) If the LL was to get the full HB (i.e. an extra £25 p/m) might they waive the need for a guarantor?

2. With this option I'd want to limit myself up front, and demand the following in the guarantor's contract
* The guarantor agreement will be limited to the 6 month fixed term only and will need to be renegotiated at the end of that term (I will not guarantee the murky area of a rolling contract)
* The guarantee will not be secured on any of my assets
* The guarantee will be limited to rent arrears only and will not apply to damage to the property (or limit damage to 1 month's rent)

Also
* If HB cannot be paid direct to the LL then I'd require her to set up a separate account that HB is paid into and has an SO to LL - I'd ask her that I have access to check that no other transaction have taken place on that account (I understand that I will have no legal access to the account - I won't become a joint account holder for credit profile reasons - but unless this access is upheld I will not continue to be her guarantor on the next tenancy renewal)

a) Does this sound reasonable from a landlord's POV?
b) Does this sound reasonable from her POV?
c) Is there anything I've missed, or any way of mitigating or limiting my risk further?
d) Will being a guarantor cause my credit profile to be associated with hers? (Her credit history is very poor; mine has been average for a while but is slowly improving)

Please bear in mind, that
* I want only the best for her and the kids
* While she is useless with money and has screwed up in the past - she's not particularly vindictive and knows full well that guarantor or not, any missed payments will likely result in the landlord kicking her out after the initial 6 month contract - the requirements above are really intended to stop her screwing up
* The home situation is becoming unbearable on a daily basis and the kids are being affected by it - the sooner this ends the better - I have a responsibility as a father and am willing to make short term sacrifices to reach a long term resolution

Also, I will be consulting a FA and a solicitor before doing anything - just wanted a rough consensus on the issues first.

Jeez - that was the condensed version!

I think your suggestion is ridiculous, not landlord would agree to them. They want the full rent covered, until the tenant moves out. They also want damage protection. You will be liable to everything as if YOU are the tenant. No ifs or buts. Do not expect anything less. Your assets will be at risk also. You either help your ex properly or do not.

Dan-Dan

This threads a joke , a guarantor that only wants to be responsibile for late rent but no damage ? so like , a kind of `half ` guarantor then ?

sigh

BeingThere_2

Thanks to everyone for the replies. It's been helpful to learn what sort of response may be in store when I ask the questions.

A bit of a shame that negative responses seem to come with sarcasm and lack constructive ways forward, but they're useful in their own way.

I'll post any extra information I get from the FA, solicitor, LL, EA and the final outcome too.

Many thanks again

sharp910sh

BeingThere wrote: »

Thanks to everyone for the replies. It's been helpful to learn what sort of response may be in store when I ask the questions.

A bit of a shame that negative responses seem to come with sarcasm and lack constructive ways forward, but they're useful in their own way.

I'll post any extra information I get from the FA, solicitor, LL, EA and the final outcome too.

Many thanks again

Its not a negative response, you are being ignorant. No landlord wants a guarantor with a limited liability. The landlord will say you will be liable as if YOU are the tenant, simple as you. No ifs or buts my friend. You can try, but they will laugh.

RAS

Ok

Which country are you in as Scottish law is very very different?

In England and Wales, most guarantor documents are not worth the paper they are written on. So the LL could not enforce it in court.

However if you get a LL or agent who knows their onions and you sign a properly witnessed deed, you cannot limit your liability. They can come for the lot; rent for the full 6 months, rent for the period when she fails to move out and they take her to court (she will probably be advised by the Council not to leave until at least the point where bailiffs are being appointed), all the court and enforcement costs and the cost of any damage/cleaning not done.

So if you can afford a year's rent plus the additional costs on top of your own accomodation and the CSA and the CCJ, that fine.

BeingThere_2

@sharp910sh
I was mostly referring to a previous rather sarcastic post, just a comment on tone more than anything.

sharp910sh wrote: »

I think your suggestion is ridiculous

... is a little on the negative side though. Surely the separate bank account wasn't an entirely ridiculous suggestion?

I was only asking a question about something that I know absolutely nothing about and looking for some guidance as to whether it would fly or not, or whether someone who knows more about this could offer some sensible criticism and improvement.

You make good points on behalf of the landlord and it seems that limiting liability on the guarantor contract isn't likely to be an option, but surely limiting liability to just the term of the contract is? I'm just desperate to put a mid-to-long term resolution in place for her and the kids, without leaving myself in a position where I could lose everything at her accidental or malicious discretion.

You're right I am indeed ignorant, entirely, of how this whole thing normally works. If I wasn't I wouldn't need to post on this forum.

monty-doggy

It's easy to mis read on this site, and its easy for people to be sarcastic. Just ignore it.
There ARE LL out there who are reasonable. You just have to find them.

I lived abroad for a while and when I came back I had no credit history or savings. I advertised on gum tree and locally for a flat to rent. I found one and the LL was brilliant, I didn't even have to pay a deposit. What mattered more was that he met me, could see I wasn't a nut job and he made his calculated risk. I was on HB for a short time and I had it paid to me and I paid the LL. the flat was furnished but nothing fancy so what's the worst I could have done? As it happens when I left I left behind a 40 inch tv as I didn't need it and it was a big back one so too heavy to move. But great for his next tenant as it was a fab tv! Not every LL or tenant is an !!!. You just need to keep on trying.

RAS

As I posted above, you cannot limit your liability to the fixed term of the contract. Because unless she moves out the tenancy continues.

This is also why your current LL insists you both leave. At present you are liable to pay the whole rent on the property. You remain liable until you give the LL vacant possession, even if you move out and rent elsewhere. The LL has the option of providing your ex with a new tenancy as a sole parent but does not want to do it.