2. The guarantee shall be valid for the entire period during which the property is occupied by the lessee or licensee and shall not be limited to the period specified in the contract. This guarantee applies throughout the lease or the extension or performance of the contract, whether for another fixed term or a periodic rental contract, whether it was created by agreement between the lessor and the tenant, or by law or other means. However, if the borrower wishes to pursue his application, he must find another guarantor. Hi Kevin, I`m really sorry to hear that your granddaughter put you in this position, but that`s what you signed up for when you agreed to be a guarantor. Regardless of the CCJs, etc., if your granddaughter is still in the property, you are still a guarantor and it is very difficult, if not impossible, to get out of it. The only two options are for your granddaughter (or landlord) to finish the lease or for your granddaughter to find another guarantor. You should seek legal advice to see if other avenues are open to you. Good luck. Those of you who are considering being guarantors read the contract and know what you are signing up for. It is very important that you read the warranty carefully to make sure you understand what you are signing up for. If you guarantee more than the unpaid rent, you should also read the lease to find out what else you are guaranteeing. Honestly, I don`t understand the guarantors who ruin leases.
Your deposit benefits the owners, not the boards or utilities. It is possible to negotiate with the owner a modification of a warranty contract. This would ensure that the deposit`s liability is limited to your rents or the damage you have caused. You may need a “guarantor” to rent an apartment. A guarantor is someone who agrees to pay your rent if you don`t pay it, such as a relative or close relative. So think carefully before agreeing to be a guarantor, 🤔 I was a guarantor of a friend, but when his lease was renewed, I refused to sign the new contract. Does that mean I`m still a guarantor? Being a guarantor means helping someone else get a loan, such as a loan or mortgage. As a guarantor, you “secure” another person`s loan or mortgage by promising to repay the debt if they can`t afford it.
It is advisable to agree to be a guarantor of someone you know well. Often, parents act as guarantors for their children to help them take the first step towards property managers. It is always the same model for guarantors, you guarantee that your aquatinted is not relevant at the time of the breakdown and you will get up and pay. It is so frustrating in the treatment of guarantors that they must understand that the right of owners to regain control of YOUR PROPERTY requires an injunction from the District Court and is an absolute nightmare of a trial that can last up to 5 months. It also depends on the wording of the guarantee. You can, for example, remain liable as long as the rental agreement lasts and for possible rent increases.. . . .