Guarantor weary of mention of 'Unlimited' within the Limited Deed of Guarantee.

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7 Posts
12 years ago

I have used your 'Deed of Guarantee (Limited)'for the guarantor of a student tenant we have in a HMO property. The guarantor is uncomfortable with the mention of 'Otherwise my/our guarantee is unlimited' within section 2 of the Deed of Guarantee (Limited).He feels this could expose him to an unlimited liability and has asked as to vary this so it is limited to a particular sum. We however would be uncomfortable with this as it would mean changing your legal document which we assume has been put together to protect oursleves. What does the term 'Unlimited' refer to and what do you advise we do next?



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