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Rental Guarantor questions
Howy38
Posts: 1 Newbie
Hi I have been asked by a family member to be a guarantor, but will it effect my credit and for me to be applying for a remortgage for myself in the next 6mths?
0
Comments
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It will not appear on your credit file.
However, you should yourself think carefully about the financial implications: If the worst happened, could you afford to pay both your own mortgage, and the rent you are guaranteeing, on an ongoing basis?0 -
Best to break the news slowly with some Tea and cakes(G_M TM) if you decline the request"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
I'd strongly suggest you not doing it. I did a few years back (for very good reason) and it was the most uncomfortable 2 years of my life....0
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Go ahead but only if you can continue to pay the rent if they default as you will become responsible for paying it and they will chase you for it.0
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I was asked by a family member, jumped and said yes, after advice here and reading it, I had to decline.
1. Can you afford to pay it?
2. Are you happy to pay it?
3. If they don't pay, it's you that they go after, and if you can't it's your credit rating that is ruined.0
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