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MarkF

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  1. MarkF

    guarantor?

    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 seek 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 I cease to be, if I still am, the guarantor? Sorry this goes on a bit, thank you for your patience. Mark
  2. 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 seek 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 I cease to be, if I still am, the guarantor? Sorry this goes on a bit, thank you for your patience. Mark
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