Guarantor refusing to guarantee unlimited losses

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2 Posts
1 year ago

Hi, please can I ask for some advice? We have 4 students on an AST and have used the Limited Deed of Guarantee for their nominated guarantors (all parents)... one parent has now emailed saying he refuses to guarantee the unlimited losses clauses of the Deed. He is happy to sign for his tenant's share of responsibility, i.e. he wants the Guarantee to be limited for losses as well as rent. I'm really struggling to find a clear explanation of why the guarantee for losses should be unlimited: can anyone help? Thank you!

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