Guarantor question

ps124

Thanks for all the responses. Much appreciated everyone.



Here is a summary of my responses to the last set of messages:

• They are reasonably well off, but as I said, they've already forked out a lot of money getting over here, so they want to avoid the lump sum rent payment. I lent them some money for the initial agent fees/rent and they have already re-imbured me so I do have trust in them
• the rent is £450 a month, so for 6 months would be £2,700 - I don't want to lend that sort of money to them...being a guarantor, I only need to step in if she doesn't pay, and I don't think the situation would arise

I get the whole concept of being a guarantor for someone (especially family or relatives) is a big no - everyone seems to be so dead against it, but if I had the correct terms in the agreement to get what I want, break clause of 6 months, is it a bad thing?



I mean, after the break off of 6 months, I'd be free from it - could anything come back to bite me in the !!!!!?



I just really don't want to leave this friend in the lurch. She's found a room in a good house, so close to her uni, so me not being the guarantor, I'd basically be getting her thrown out (shes moved in already...waiting for me to sign the guarantor thing).



What other options do I really have?

missile

What other options do I really have?

Say ............…. NO!

Slithery

ps124 wrote: »

the rent is £450 a month, so for 6 months would be £2,700 - I don't want to lend that sort of money to them...being a guarantor, I only need to step in if she doesn't pay, and I don't think the situation would arise

But it's not just the rent that you'd be guaranteeing, it's all of the tenants liabilities. What happens if there's a wild student party and £10,000 of damage gets done, are you still happy to pay?

t0rt0ise

You won't get that clause taken out. The landlord has put it there purposely.

takman

ps124 wrote: »

the rent is £450 a month, so for 6 months would be £2,700 - I don't want to lend that sort of money to them...being a guarantor, I only need to step in if she doesn't pay, and I don't think the situation would arise

Lending them £2700 to pay rent up front for 6 months is actually the least risky option as that will limit your liability to that amount, if your a guarantor you could potentially be liable for much more.

So if your not comfortable lending them that amount then you should be even less comfortable being a guarantor for them.

CGG

I would never be a Guarantor for anyone! Who will bail you out when it all goes belly up? Who would even sympathise with you if it does? !!!!!!

davidmcn

ps124 wrote: »

(shes moved in already...waiting for me to sign the guarantor thing).

Which suggests the landlord might not be all that bothered about the guarantee. String it out a bit longer and see if they bother chasing up. If she's paying the rent and term has started are they really going to bother kicking her out? It could take them quite a while to do so.

Paul_DNAP

ps124 wrote: »

I mean, after the break off of 6 months, I'd be free from it - could anything come back to bite me in the !!!!!?

You will be responsible for any unpaid rent or incidental charges that arose during that 6 months, and you won't be free from being chased for it when the 6 months ends.


e.g. when she moves out the landlord decides all the carpets were ruined during the lease, they won't chase the tenant who is now back overseas, they'll chase the UK based guarantor (possibly through the UK court system) which is much simpler for them to do.

harrys_dad

is it a sole tenancy or are there others in the house? if so, you could be liable for lots more. She has already moved in and is paying rent. if you don't sign anything I doubt she will be evicted. Even if she is, it will take most of the remainder of the six months.

Ask yourself a different question (which is really the same question). "Do i trust this person enough to sign a blank cheque knowing they will be leaving the country immediately it is cashed?

Mela322

Wait, she has already moved in? It's very common for international students to have a UK guarantor but how many really know any living here? I would do a google search for guarantors for international students and send her a few. There is a fee to pay but it takes you off the hook.

There is always a risk signing as a guarantor but if you know the person and trust them, it's not always a disaster. We've had a guarantor for us over the past 18 months but our rent is our top priority. We are just getting ready to move into our new property without needing a guarantor.