This website uses cookies to ensure you get the best experience on our website, read about our cookie policy.
Accept Cookies
Reject Cookies
National Residential Landlords Association
Home My Account My Portfolio
Join Us Log In

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

MK
MK
0 Thanks
7 Posts
12 years ago
0
Hi,

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?

Regards,

MK.

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £99 you can join in the discussion and get access to member's only resources and services.

As the home for landlords, the NRLA are here to help you save time, save money, and stay compliant. NRLA membership gives you access to a vast range of expertise, resources, and exclusive member benefits and savings, designed to help and empower members. We also play a pivotal role in campaigning and championing the interests of landlords.

Join Today

Have you forgotten your password?