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Being taken to court as Guarantor...


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I handed my notice in as guarantor a few days ago as I've quit my job to go travelling so am no longer in a position to act as guarantor.

 

The estate agents have replied with "I'm afraid it's not that simple as the tenant owes £4,400".

 

I have now received a letter stating they're applying for a notice of possession and taking me to court if I don't pay the arrears.

 

I doubt I have my guarantee agreement anymore and they haven't sent me the signed copy despite requesting it via email.

 

To clarify, I have received no prior notification of the arrears building up. Am I correct in thinking they were legally responsible for notifying me of arrears?

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I really don't think you have any exit route from being a guarantor. Never lend money or act as guarantor to somebody unless you have afford to lose it. You can't just change your mind and say that the guarantee of payment, which you've made, is no longer valid.

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The guarantor is the landlord's insurance policy against tenant default. They pay the landlord the rent if the tenant defaults, and pays the landlord's losses, expenses or damages where the tenant fails to carry out their obligations under the lease. In default the landlord can sue the guarantor. The agreement wording needs to be carefully looked at.

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I don't see why they would be legally responsible for keeping you up to date with the rent short-fall.

 

If the tenant's shortfall was within the period of a fixed term tenancy then there would not be much way to mitigate the loss I suppose.

 

If they signed up a new tenancy despite losses, or if they continued with a periodic tenancy, then it sounds like that would be unfair on you (but I don't know whether it would be unlawful).

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