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How to stop being a guarantor
JoCo841
Posts: 2 Newbie
My son and his girlfriend moved in together 3years ago and we agreed to their guarantor. Unfortunately they have now decided to split and his girlfriend is staying in the property for which we are guarantors. My son has to find a place of his own and we naturally want to be his guarantor rather than hers. How can we stop being her guarantor. This will mean a change to the lease to remove my son’s name so surely that would mean a change to the contract as well?
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Comments
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If the LL agreed to change the tenancy then you would stop being guarantors.
But he is not obliged to do so0 -
Can the girlfriend afford the property on her own? I fear this could get messy.They are an EYESORES!!!!0
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If son gives notice on tenancy it ends for both, job done. Landlord can choose to offer new tenancy to her only - or not.0
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If the LL agreed to change the tenancy then you would stop being guarantors.
But he is not obliged to do so
As this would be a new tenancy agreement with new terms would the guarantor then not be released.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
theartfullodger wrote: »If son gives notice on tenancy it ends for both, job done. Landlord can choose to offer new tenancy to her only - or not.
Be careful of this: if the JOINT tenants (ie ex gf as well) don't vacate the property by the notice expiry, then the LL can refuse a new tenancy with the gf alone and instead claim distress rent at 2x the monthly rent. The joint tenants would be jointly liable for this, until the property is vacated.0 -
As this would be a new tenancy agreement with new terms would the guarantor then not be released.
It depends on how it is handled. If a brand new tenancy with the ex-girlfriend is signed then the OP would not be the guarantor for that tenancy. If the tenancy is amended using a Deed of Variation to simply remove the son's name then I'm not so sure. If the son just moves out and the joint tenancy remains in place then the OP will remain liable.
It's important that the current joint tenancy is ended correctly.
Assuming the rental property is in England or Wales the OP and the tenants should read G_M's Ending/Renewing an AST: what happens when a fixed term ends? How can a LL or tenant end a tenancy? What is a periodic tenancy?0 -
No way could she afford it. She’s on benefits and has no one else to be her guarantor, so she would end up going into social housing.0
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Is there an abundance of social housing the area?
Given what you've just told us it's unlikely the landlord is going to agree to a new tenancy in the ex's name only without a guarantor. Assuming the tenancy is currently periodic your son needs to serve notice to end the joint tenancy and both of them must vacate the property by the end of the notice period.0 -
I would not touch being a guarantor with a barge pole. OP reconsider being one.
https://forums.moneysavingexpert.com/discussion/5846251/being-chased-for-unpaid-as-a-guarantor"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
I would not touch being a guarantor with a barge pole. OP reconsider being one.
https://forums.moneysavingexpert.com/discussion/5846251/being-chased-for-unpaid-as-a-guarantor
It's a bit late as they are asking how to stop being one.0
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