How to make the Guarantor worth having?

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    How to make the Guarantor worth having?

    http://www.landlordzone.co.uk/forums...-Covenant-quot

    I am referencing a Lady with children, who has suppplied without prompting a guarantor, despite the fact that she probably doesn't need one, as she has a strong rental record.

    But If we are having one, I'd like it to be worth the paper it's written on.

    So what exactly do I need to do ?

    #2
    Is this for the only BTL you have?

    I would be questioning why she offered a guarantor and research her a bit more- you don't really want to get into that territory as a first timer. Just a personal opinion.



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

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      #3
      Originally posted by Interlaken View Post
      I would be questioning why she offered a guarantor and research her a bit more- you don't really want to get into that territory as a first timer. Just a personal opinion.
      It could be that the prospective tenant was required to provide a guarantor for her last tenancy and that she is anticipating the request.

      We seem to have reached the stage where, on the slightest pretext and sometimes for no good reason at all, landlords/agents are asking for increasingly larger deposits, larger chunks of rent upfront and guarantors, but if a prospective tenant offers a large deposit, big chunk of rent upfront or a guarantor suspicion is aroused.

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        #4
        I have been meaning for a while to consolidate all the posts I have made on guarantees. Thinking of making a start I went to post 11 in this thread: http://www.landlordzone.co.uk/forums...ight=guarantee but the link no longer works. Can anyone renew it or provide a similar link, please?

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          #5
          Paste "lawcruncher+guarantor+site:landlordzone.co.uk/forums" into google.

          Without the quote marks.
          When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
          Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

          Comment


            #6
            Originally posted by Lawcruncher View Post
            I have been meaning for a while to consolidate all the posts I have made on guarantees.
            Great!

            Thinking of making a start I went to post 11 in this thread: http://www.landlordzone.co.uk/forums...ight=guarantee but the link no longer works. Can anyone renew it or provide a similar link, please?[/QUOTE]

            Presumably you mean this link?: http://lmgtfy.com/?q=lawcruncher+gua...co.uk%2Fforums ? Still works for me (but the same net result as jpkeates provided in post #5)

            Comment


              #7
              Originally posted by jpkeates View Post
              Paste "lawcruncher+guarantor+site:landlordzone.co.uk/forums" into google.

              Without the quote marks.
              Thank you.

              Comment


                #8
                I have set out all my comments in a new thread. Have fun reading them!

                Comment


                  #9
                  Originally posted by Interlaken View Post
                  Is this for the only BTL you have?

                  I would be questioning why she offered a guarantor and research her a bit more- you don't really want to get into that territory as a first timer. Just a personal opinion.
                  I have done my research and am convinced she is full of good intentions and can afford them. I am not that happy that her employer is a large Law firm based in the Area, and as such she has an advantage should I make a minor mistake in the legal documents and obligations.

                  I am happy however that she is moving out of smaller cheaper and more secure housing association house to move her kids to a nicer more expensive larger house in a nicer area, and that she understands the risks of failing to pay the rent on time. I.e. S8 / S21 as appropriate.

                  I am not happy that she now appears to have given notice to the housing association despite the fact that the referencing is not yet completed (Silly). I hope she and/or her guarantor both pass the referencing, because quite frankly who wants to tell someone really bad news.

                  Comment

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