Guarantor's form

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    Guarantor's form

    Hi,

    I have a DSS tenant lined up and his dad has agreed to be a guarantor. I'm thinking of using the following form for his dad as a guarantor:

    https://www.southampton.ac.uk/accomm...-%20redone.pdf

    Then asking to see his dad's ID and proof of home ownership (mortgage or property deeds). I'll get my dad to be a witness.

    I'm just wondering whether there's anything else I need to check?

    Thanks

    #2
    It's not a Deed. Advice hereabouts is only use deeds..

    ALWAYS credit & reference check tenants & guarantors.. How else would you find out he's actually got no job, no property assets & 17 CCJs already... If it appears he owns his own home spend £3 with land regisrty to confirm & find out if there are loans or charges on it.

    See also...
    http://www.landlordzone.co.uk/forums...T-form-or-Deed

    Cheers!
    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

    Comment


      #3
      Not keen on the form of guarantee.

      Not that keen on your dad being witness; in fact better if you are not around when the guarantee is signed, though this obviously presents a problem in establishing the identity of who signs.

      Comment


        #4
        You need to read up on here on the many threads on Deed of Guarantee especially the ones by Lawcruncher - top advice IMO



        Freedom at the point of zero............

        Comment


          #5
          Originally posted by Lawcruncher View Post
          ...in fact better if you are not around when the guarantee is signed, though this obviously presents a problem in establishing the identity of who signs.
          I thought I'd read here somewhere that you need to be in the same room as the other signee for a deed to be valid. Or have I made that up?
          IANAL (I am not a lawyer). Anything I say here is just an opinion, so should not be relied upon! Always check your facts with a professional who really knows their onions.

          Comment


            #6
            The witness does indeed need to be in the same room or, to be more precise, the deed needs to be signed in his presence. All I am saying here is that, whilst the validity of the execution would not be affected, a deed is liable to be challenged if the circumstances in which it is executed are such that doubts can be raised as to whether everything was above board.

            Comment


              #7
              OK - so the witness needs to be present (that I knew and it of course makes sense) but the main signatories don't have to be together at the time. Is that right?

              So what would be a good way of ensuring the person signing (guarantor) is who they say they are? Ask for a solicitor to act as the witness perhaps?? What sort of cost would that be and who would pay?
              IANAL (I am not a lawyer). Anything I say here is just an opinion, so should not be relied upon! Always check your facts with a professional who really knows their onions.

              Comment


                #8
                From all these threads about guarantees, I've come to the conclusion that the best way to proceed is to require the guarantor to seek legal advice and use a solicitor as witness.

                As for costs, it would be for the guarantor or prospective tenants to cover them.

                I think that just witnessing signature would only cost a few tenners, and ~1 hour legal advice would depend on the solicitor, probably £200 to £600.
                I'm thinking that £250 for the complete package is probably a realistic budget.

                At the very least, I would insist on a solicitor as witness.

                Comment


                  #9
                  Originally posted by Grrr View Post
                  ...but the main signatories don't have to be together at the time. Is that right?
                  It is.

                  Originally posted by Grrr View Post
                  So what would be a good way of ensuring the person signing (guarantor) is who they say they are? Ask for a solicitor to act as the witness perhaps?? What sort of cost would that be and who would pay?
                  Getting a lawyer to witness is a good idea, so long as you make sure you can check that the witness actually was a lawyer! If you draw up the attestation so that the firm's name and address is included you can call to check - but get the number from a directory or the firm's website.

                  As to cost, you need to distinguish between:

                  (a) witnessing only to involve establishing the identity of the guarantor;

                  and

                  (b) getting the lawyer to confirm he has advised the guarantor of the full effect of the guarantee, which will obviously more expensive.

                  Comment


                    #10
                    Cheers for the tips guys - I'll follow up as you mentioned and request a solicitor as a witness (I had a solicitor as a witness a few years ago - cost £10).

                    Thx

                    Comment


                      #11
                      Aetius80 / peter.siffredi are you the same person? If so it would be better to use a single alias in one thread to avoid confusion.
                      I also post as Mars_Mug when not moderating

                      Comment

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