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ChatterBank14 mins ago
my rights????????????
Hi All
I have a couple of questions regarding being a guarantor, hope you can help.
Firstly,having signed as a guarantor in june 2005, do my responsibilities automatically roll over each time the lease is renewed?
Secondly, as the tenant has defaulted I have been notified of the Landlords intention to see a money order against me for the outstanding sum, which obviously depending on the first question, I may or may not be obliged to pay. My question is though, at the same time they should seek a possesion order, I have no idea how long this process takes, and in the the interim would I still be liable for ongoing rent defaults?
Thirdly, can I seek a possesion order to ensure the tenant doesnt remain in the property after I have settled their arrears?
Finally, how can cease to be, if I still am, the guarantor?
Sorry this goes on a bit, thank you for your patience.
kel x
I have a couple of questions regarding being a guarantor, hope you can help.
Firstly,having signed as a guarantor in june 2005, do my responsibilities automatically roll over each time the lease is renewed?
Secondly, as the tenant has defaulted I have been notified of the Landlords intention to see a money order against me for the outstanding sum, which obviously depending on the first question, I may or may not be obliged to pay. My question is though, at the same time they should seek a possesion order, I have no idea how long this process takes, and in the the interim would I still be liable for ongoing rent defaults?
Thirdly, can I seek a possesion order to ensure the tenant doesnt remain in the property after I have settled their arrears?
Finally, how can cease to be, if I still am, the guarantor?
Sorry this goes on a bit, thank you for your patience.
kel x
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By lease I assume you mean tenancy agreement, and that you signed something when the first agreement was made which made you a guarantor. If the first agreement has subsequently been replaced by another I think that you will still be a guarantor if the wording of your guarantee document allows for this. You need to check the wording carefully, but I would guess the landlord (or agent) would have made sure you would be committed so long as they had that particular tenant.
Has the tenant left the property? I assume not as you refer to a possession order. The landlord should apply to Court for this and - if it is an assured shorthold - can use an accelerated procedure. Even with this it can be some while before possession is obtained, especially if the tenant does not leave voluntarily. Also, if the landlord knows he can get the rent from you he may be less inclined to hurry the process on.
I don't think you can apply for possession - you are not likely to be a party to the tenancy agreement, but it might depend on the wording of the documents.
I think you can only cease to be a guarantor if the tenancy ends, or if there is some other means specified in the documents.
These are my views but are based on limited knowledge - it seems you could possibly be liable for substantial sums so it might be worth taking all the relevant papers (including a copy of the tenancy agreements) to a solicitor for advice.
Has the tenant left the property? I assume not as you refer to a possession order. The landlord should apply to Court for this and - if it is an assured shorthold - can use an accelerated procedure. Even with this it can be some while before possession is obtained, especially if the tenant does not leave voluntarily. Also, if the landlord knows he can get the rent from you he may be less inclined to hurry the process on.
I don't think you can apply for possession - you are not likely to be a party to the tenancy agreement, but it might depend on the wording of the documents.
I think you can only cease to be a guarantor if the tenancy ends, or if there is some other means specified in the documents.
These are my views but are based on limited knowledge - it seems you could possibly be liable for substantial sums so it might be worth taking all the relevant papers (including a copy of the tenancy agreements) to a solicitor for advice.
Only 1 answer
