does anyone know about being a guarantor for a student???

Mojisola

silvercar wrote: »

So do you tell your (academic- let's assume) child that there is no way you would act as a guarantor if they move away to university, so their only options will be to study at a university close to home, if there is one that offers an appropriate course, or miss out on going to university or risk living in whatever sub standard accommodation they can find with a landlord who is prepared to take them with no guarantor?

Fortunately we haven't had to face that decision but having money gives you options.

If we were living a more hand-to-mouth existence then hard decisions would have to be made. If one of ours had to find work, save up and go to uni a few years later than his/her peer group or do a Open Uni course, it wouldn't be the end of the world.

Prothet_of_Doom

Guest101 wrote: »

Have u signed or are u being asked to sign a deed? If not then it's a LL who doesn't know what he's talking about. Worrying, as what else does he not know?



Google HMO's or check out some other threads here.

I was happy to agree to be a Guarantor for my son, because the paperwork was total rubbish, and would not have been enforceable.

The letting agent sent me via email, a link to his website which brought up the details and T&C's of room and I clicked on a box to say I accept. And that was that. No deed, no witnesses, absolutely pointless from the LL's point of view.

Prothet_of_Doom

My mate was recently faced with the prospect of paying the rent for a room his son would not use, but there are increasingly single students, who just wait to see what comes up when 10% of students fail the first year. (In this case he took a place at a different university)

ForeverDreaming_2

I am currently going through the same situation.

4 students sharing

I was advised to write on the guarantor form that I was only guaranteeing 1/4 of the overall cost and also advised to make sure the dates of tenancy are included on the guarantor form which I did and the landlord accepted this.

It was either sign as guarantor and support the student otherwise they can't have the tenancy. Apparently the offer of halls in second year are not guaranteed and by then it could be too late to get other acceptable tenancy.

FR_262

i'd be very wary of signing as a guarantor if the house is on a joint/several liability tenancy. You are guaranteeing all the other students too. The landlord will pick on the easiest guarantor to get money for damages, which with so many students will undoubtedly happen.

Does he rent just the one room? If so that's good.
Does the room have a key? If so that's good.

Whether or not he is on a single (room) tenancy or is one tenant on a whole house tenancy agreement the house must have smoke alarms, a heat alarm in the kitchen, 30 minute fire doors (either actual fire doors or solid wooden doors) and intumescent (spelling, sorry) strips. (furry strips in the edges of the doors) and door closers either above the door or in the frame (percos).

There must be landlord's insurance (not home insurance).

The property will need to be registered as a HMO (house of multiple occupancy) with the council.

FR_262

Also, if the rooms are let separately then it's the Landlord's responsibility to clean the shared areas i.e. bathroom, hallway, stairs, kitchen, shared living room, garden.

molly22

thanks lots for all your information, very much appreciated.

dont feel so lonely taking on this risk now. as was said, one shouldnt risk what one cant afford to, but how else would my son continue with his studies whilst being away from home, part of going to university was to get him away and learn to stand on his own feet.

thanks again

molly

spacey2012

If it is a joint deed, you are entitled to receive a serviceable address for all parties to the deed, so you can stay in touch should they try the tried and tested, we are bunny boiler taking you to court scam on each member, you have the same rights of authorisation to recover losses as the landlord.

Also all parties have to be in the same room at the same time, if not sign nothing.

FR_262

If you're on DS then there's not much value in you being a guarantor. You've no income to act as a guarantor with!

LandyAndy

spacey2012 wrote: »

Any Guarantor deed needs to be read by a legal expert before you sign and bullet pointed, some make you "jointly or severally liable"
In other words, you pay the lot, every penny.

It is the latest scam and nets rouge landlords a small fortune each year.

If you get caught by one of those it's going to be red faces all round.