Guarantor Has Decided To Terminate Their Responsiblities
Guarantor

Satnam
Satnam
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1 Posts
9 months ago
0

Dear All

I thought that the guarantor was responsible for the tenant throughout their tenancy.

Today on the Guarantors solicitors adviced them to terminate their tenant responsibities relying on the fact that the terms of the existing tenancy have been changed ie the rent has increased and that the gaurantees are automatically cancelled.

They believe that they need to sign a new guarantee deed.

The reason for this is that the guarantors can only be held responsible for something they have already seen and agreed to.  If the terms of the tenancy are changed, then guarantors have to approve the change in a new guarantee deed if they are to be bound by them.

Can anyone advise that this is really the case?

Thank you in advance for any help in this matter.

 

Satnam

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