Guarantor request by LL for student accomodation

missbiggles1

aquitaine wrote: »

He is a 19 year old with no assets for them to chase, that is very different from putting the family house at risk.

A CCJ will do his future no good at all.

aquitaine

missbiggles1 wrote: »

A CCJ will do his future no good at all.

A CCJ disappears after a few years, it is a minor irritant compared to losing the family home.

mumps

aquitaine wrote: »

For anyone who is interested I managed to resolve this by paying the rent in advance in the end. They opposed this vigouously but capitulated in the end. Net result is that son is in property and I have no risk whatsoever from the agreement. Pointed out to son that by moving a sum of money from A to B we have probably lost about a fiver in interest but have totally removed any liability. From unlimited liability to zero liability for a fiver seems a reasonable deal to me.

Thank you to everyone for your thoughts. I think the moral is not to be bullied or intimidated by a grotesque industry which thinks it has the upper hand. I am going to lobby my MP to put a stop to this sort of demand for free unlimited liability by the buy to let industry. It's about time they were brought to heel.

The problem with this is if the landlord is in arrears with his mortgage and the bailiffs arrive tomorrow. The other students will lose a months rent when they are evicted but you will lose ten months rent? or however much you have paid up front. This happened to a friend of one of my children, he lost a couple of weeks rent but someone who had got a discount for paying up front lost alot of money.

missbiggles1

aquitaine wrote: »

A CCJ disappears after a few years, it is a minor irritant compared to losing the family home.

It will stop him renting a property for at least 6 years, make it difficult for him to open a credit card and affect his ability to get a mortgage. Some types of employment will be closed to him.

Not what most caring parents would describe as a "minor irritant".

aquitaine

mumps wrote: »

The problem with this is if the landlord is in arrears with his mortgage and the bailiffs arrive tomorrow. The other students will lose a months rent when they are evicted but you will lose ten months rent? or however much you have paid up front. This happened to a friend of one of my children, he lost a couple of weeks rent but someone who had got a discount for paying up front lost alot of money.

I checked that before paying. The money is with the estate agent and if the landlord goes bust I'll only lose a month and get the rest back.

aquitaine

missbiggles1 wrote: »

It will stop him renting a property for at least 6 years, make it difficult for him to open a credit card and affect his ability to get a mortgage. Some types of employment will be closed to him.

Not what most caring parents would describe as a "minor irritant".

If he found himself in that position he would have to make sure that the state housed and fed him and we would all have to pick up the tab as we do for so many people in that situation.

Marvel1

aquitaine wrote: »

If he found himself in that position he would have to make sure that the state housed and fed him and we would all have to pick up the tab as we do for so many people in that situation.

Great lessons for the Son.

silvercar

aquitaine wrote: »

If he found himself in that position he would have to make sure that the state housed and fed him and we would all have to pick up the tab as we do for so many people in that situation.

A single person under 25; the local council would give him a list of private landlords. They don't have properties lying waiting for single people who need support.

silvercar

aquitaine wrote: »

How not to get the family home repossessed. How never to give in to dodgy landlords and estate agents. Valuable lessons.

Please quote a case where a family home has been repossessed as a result of a student on joint tenancy being found liable for so much money that the guarantor parent ended up leaving their home.

Your attitude is worrying, as it means you will deny your offspring (and I assume yourself) the opportunities in life because of the theoretical risk that you perceive when the vast majority of people take a more measured view.

marksoton

aquitaine wrote: »

A CCJ disappears after a few years, it is a minor irritant compared to losing the family home.

aquitaine wrote: »

If he found himself in that position he would have to make sure that the state housed and fed him and we would all have to pick up the tab as we do for so many people in that situation.

What an amazingly naive [STRIKE]stupid[/STRIKE] attitude.