Best way to manage guarantor funding arrangement

magicsmum

I am disabled and because I'm about to undergo treatment cannot work. My rent is currently being paid via Housing Benefit. I need to move and despite my paying (thanks to my Dad) 4 months rent in advance in addition to the deposit & fees (again thanks to my Dad) the agents still want a guarantor.
Unfortunately Dad doesn't earn their £19,200 threshold although he does own his own home, so they won't allow him to Guarantor. Luckily, a friend has offered to do so provided Dad provides 2 months rent that can be put in their savings account to cover any issues should anything happen to Dad & I and they are required to act on the guarantor agreement. I completely understand this and we are happy to do. Especially as we both know that us both being incapacitated is the only time it would ever be needed. I never default and should something happen that I did, my Dad would help.

Now you know the background, my question is this...
Is her putting the funds into her account the way to proceed? Or is there a better way to organise it so funds are held somewhere neutral to us both but she can easily access them if required (i.e. if Dad & I were injured or killed and n an accident)?.

I should say, I'm planning on drawing up a written agreement between us that the funds are solely for use in her role as guarantor and to be returned on request at the end of the tenancy if they are not required for purpose.

Any and all help appreciatex. Thank you