General Chat

a friend has asked me to rent my daughter a flat and be her guarantee but she will rent it will pay me as she has to be out of her place in a week and cant get credit?What would you do? Annie

Say a very firm no!!!!

Sorry, but you really can't sign in all honesty knowing she can't keep up with the rent and you will be liable if she falls behind.

Absolutely no way would I stand guarantor for anyone.

I have probs paying my own bleedy bills without being responsible for somebody elses finances xx

Please don't do it Grannie. You may end up regretting it a lot more later.

i would say yes for mine but there only babies
if they had bad credit then id say no it will all come bck to bite u on the bum hun

so as hard as it was in your case id say no defo not

luv
stray
xxxx

sorry Grannie...is this for your friend or your daughter? I think I'm confusing myself :-)


The question to ask yourself is can you afford to pay the rent if it all goes pearshaped? if you can and your happy about it that's fine....if you cannot.....

yes , I was a bit confused too -who`s renting the flat ?Ros xx

Sounds as tho you are supposed to rent it as if for your daughter but your friend moves in and pays you for the rent you will be paying. Sounds a dodgy deal to me, and altho it's your friend and she is stuck, I think she is asking too much. She doesn't sound good at managing her money and you could end up very much out of pocket. I know you have a good heart but I am sure you need all the money you earn for your family especially with your Grandson to look after too, so I think you should say no, you can't take that responsibility. After all, it will cost you probably a month's rent in advance and another month's rent as damage deposit and you could end up losing out big time. I also think it might be illegal and could cause your daughter or you problems if your name gets blacklisted. Some flats cannot be sublet and that is what you would be doing, in effect.
Sad if you lose a friend over this, but it sounds too big a risk, Annie.
Lizxx

Annie say no, if it all goes pear shaped you will lose a friend, good money and good friends in my mind don't mix.

Barbara xx

Never a lender nor a borrower be is my motto.

If someone is in trouble and you can give them something to help then you have to look at is as a gift as the chances of being paid back are slim and you will enevitabley fall out if you are relying on getting the money back.

If you cant afford to give it as a gift then the answer must be No. Charity begins at home and you have to put you and yours first.

Never put your name down as a Guarantor unless you are prepared to also accept full liability if it all goes wrong.

I f your friend cant get credit already then she is a credit risk and you could get left footing the bill. Renting is risky anyway cos you are liable for damages as well and if she decides to move on you would be left with a leasing contract AND the cost of any repairs. I really wouldn't do it its TOOO risky for you ,she is asking you to take all the risks whist she reaps ALL the benefits.

Shirley

Grannie,
Even all goes well and she pays you the rent every week you will still worry about it all the time, years ago I went Guarantor for my niece and her husband when they bought something on credit and after I had agreed I started to worry and did not stop until it was paid off.
Us Grannies have enough to worry about already without taking on more.
Pat.

don't do it - you'll have sleepless nights worrying about it - just not worth it

Ann XX

I agree with the others on here.....say no

If shes a true mate, she will understand you cant put yourself through that worry or risk to your own home or savings..

Definitely NO.

A friend was asked to do this by her son, to stand Guarantor, for a house, he was going to share with friends.

Her Solicitor said Definitely No. She would be liable for any breakages or damages.

So please - SAY NO

Mo

my son went guarantor for his brother in law to buy a car - bil reneged on payments, son has been threatened with court - don't do it!!!!!

Thank you for all your replys.I think the answer must be no.I was in doubt thats why i put this thread up.Dont know what i am going to say to her.With the recession hitting us no job is secure now. Annie

Another point too is leasing contracts ,that you will have to sign,says that subletting isnt allowed so what she is asking you to do is breach a contract and could cause you BIG problems.

I persuaded my OH to stand guarantor for a motor bike for family member who pleaded and gave every assurance they wouldn't let him .
down. They paid for six months but didn't say anything when they stopped paying .three months later OH got a demand letter as guarantor to make up the arrears or pay the full amount with 7 days. he had to fork out nearly £500 and then still got lumbered with £120 per month for another 4 years (it was a 5 year loan agreement) NEVER again.
I felt so bad that I had pursued OH to do it

Granny, I think you've made the right decision but do you know what your friend will do about finding somewhere to live?

Is she on benefits? Can she get help from DWP?

Is there any charities that can help her or any friends that can put her up? (I know that you've got your hands full with looking after your grandson :-))

Annie - No.
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