What rights does a guarantor have?

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A question by :  Hi, Me and my fiancée (24 and 27) with 2 kids are currently renting our house but have got to move out as the landlord wants to sell the property. We have a good income and can afford the rent on another place but our credit score isn’t perfect and i anticipate i will have to find a guarantor again?


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In accordance with the terms of the Agreement, THE GUARANTOR IS RESPONSIBLE FOR PAYING THE DEBT TO THE CREDITOR THE BANK WHEN THE BORROWER Rejects TO PAY ON ANY Reason. If the primary borrower defaults, it is the guarantor’s responsibility to pay back the loan. Before their name is added to the contract, they must obtain approval regarding the guarantor loan. As a result, they will usually sign a loan agreement that details all the terms of the loan for the borrower, lender, and themselves (the guarantor). The guarantor must cooperate by sending in pay stubs, bank statements, and answering questions on the phone in order for the lender to verify their ability to repay the loan should it become necessary.

If the loan is funded successfully, the funds will initially be transferred to the guarantor’s account, where they may choose to be transferred to the borrower.


“A guarantor has no rights; all they have is the obligation to pay the rent if you fail to. Once they sign, they cannot be removed from the lease unless the landlord agrees. They cannot dictate to you anything about how you live there. All they can do is hope and pray that you continue to pay your rent.

Now, when the lease comes up for renewal, they CAN tell the landlord that they will not continue the guaranty beyond the expiration of the lease. It is roughly the same as if they were moving out; same notices, etc. So, when the lease ends, you would have to execute a new lease and requalify. But hopefully a landlord you have been paying for a year is going to not require you to have a guarantor on a subsequent lease.

Oh, because they are jointly and severally liable for the rent, that will show up as a monthly debt obligation of their own if they go to apply for credit somewhere. So, it could prevent or make it difficult for them to get a mortgage loan to purchase or refinance, new car loan, etc. because it would be counted as one of their debts.”


“Since you are a bit older, you will have more time on the job and as long as you make enough, I don’t know why they would want a guarantor. Usually that is saved for people without job security and young enough to not have any financial skills and/or bad credit. I hope you don’t have to ask.

As your parents, if they want a say, they will always have a say, ESPECIALLY if one or both of them are guarantors on a house loan or a rental. If you want to be closer to cutting off the control, they have over you, it would be best to not have them as a guarantor and to find a place you can afford on your own. Then, you can tell them that it is your place, you are paying for it with your own income and they have no part in it or say. I am sure you can find a way to say it the way you find is best.”


“They have no rights & get no say in anything. A guarantor sole purpose is to pay your bills if you fail to do so.”


Guarantors are only there to pay your rent should you fail to for any reason.

They have no rights as such!. “


“A guarantor has no “rights” whatsoever, they have responsibility and that is if you fail to pay your rent, then the landlord will take them to court as they have signed to say they will be responsible for unpaid rent”


“The only “right” a guarantor has is to pay up if the tenant fails to do so. This isn’t a “real estate” problem – it’s a family relations problem.”


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