Renting a Flat & A Guarantor....

[yelenots]

My daughter and boyfriend are in the process of renting a flat - in his name - as they want references of previous employment (my daughter has just finished uni and will be starting her 1st job so has no employment refs) however he has no one that can be his guarantor and they have both asked me. If it was just in my daughters name it wouldn't be a problem but I am worried that if they split up and he defaults on the payments it will affect me. (I have expressed my concerns to them).
Does anyone know if this did happen I could 'withdraw' from being a guarantor?
Thanks

[Buenchico]

There wouldn't be much point in people seeking guarantees if they knew that the guarantor could pull out of the arrangement!

Sorry, but you're wise to be concerned about the possibility of having to pay your daughter's (ex-)boyfriend's debts. However you might wish to consider entering into a time-limited guarantee. (i.e. signing a document which says that you'll guarantee the payments for, say, the first year of the tenancy). If such a guarantee would be acceptable to the landlord, it could give your daughter and her boyfriend time to prove that they're decent tenants, while still minimising any losses which you might incur.

Chris

[bushbaby_de]

Even if they had a guarantor each, as they would be jointly and severally liable for any debts then so would both of the guarantors unfortunately.

[ummmm]

I wouldn't....I think you're mad to even consider it.

[brenda]

Please do not do this ------is not in your best interest.

[yelenots]

Thanks for all your advice ..... I have managed to get out of it ... her boyfriend is asking his sister now thank god!!! I'm happy now :-)

[R1Geezer]

don't touch with a bargepole mate. They can come after you forever and unscrupulous landlords will fleece you.