Finally Debt Free After 34 Years, But Still Need to Live Frugally

HairyHandofDartmoor

Thanks Nicnak . I just hope that money can stay in my emergency fund. It depends upon how much we can earn over the next few months. It's so nice to have it there though, such a warm comforting feeling to actually have some savings for once ,

teafor2

DS's holiday sounds fabulous. Does he tend to stay by himself and stick to his itinerary, or does he sometimes join other people and change his plans?

I'm just 30p from cashing out again with PA but I've had nothing for a few days now xx

HairyHandofDartmoor

I think he tends to stay by himself and stick to his itinerary, but he does sometimes socialise with other travellers in the hostel in the evenings.

How frustrating about PA!

HairyHandofDartmoor

I forgot to say that DH rang DS3's letting agency today and they said he'd passed the guarantor checks, goodness knows how, they obviously have very low standards :rotfl:. DH asked about who he was guaranteeing and it sounds like it's the whole house and not just DS3 :eek: so we're not happy about that. If one student defaults then the other students and ALL of the parent guarantors would be chased for the money :mad:. We're waiting for them to send the paperwork so that we can read it, but it sounds like something I would not be very happy to sign .

teafor2

I've just replied to you on my diary HHD about what was on DD's lease.

Well done on passing the checks but personally I'd be really wary of signing a lease like that. In fact I can't imagine any parent being happy to do it. xx

HairyHandofDartmoor

It does seem incredible to think any parent would want to sign a lease like that :eek:. DH has a customer who works in lettings so he's going to ask her what she thinks about it. I definitely don't want to sign it though .

The only way to avoid needing a guarantor is if DS3 pays six months rent in advance, which would be £3000 I think :eek:. He was thinking of asking DS2 if he would lend him the money if we got refused as guarantors. DS2 has got a lot of savings as his business is doing well and his expenses are very low, so he could easily afford to lend his brother the money, if he was willing to.

jwil

That's ridiculous about the guarantor, why would anyone agree to guarantee funds for people they don't know!

teafor2

jwil wrote: »

That's ridiculous about the guarantor, why would anyone agree to guarantee funds for people they don't know!

It does seem an odd stipulation and is quite a gamble. A lot of people wouldn't even be happy to guarantor people they do know Hope he manages to get it sorted one way or another. xx

EssexHebridean

Agree that it's absolutely unreasonable to expect someone to stand as guarantor for people they don't know! Hopefully it'll turn out to not be the case as long as all those sharing have guarantors in place.

Verbatim

If you could end up being in the position of guaranteeing everyone in the house it's perhaps because all the guarantors will be "jointly and severally liable", so the landlord/ agent will go after the one/ ones easiest to chase for the whole debt.
I can't remember the costs that you set out originally for renting with but I remember thinking it sounded expensive. Is his heart set on that particular house or could there be a cheaper option?