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guarantor for rental property, any experience or advice?

(26 Posts)
thing1 Wed 10-Jul-13 20:37:56

Regular poster but nc as I don't want this linked to other posts.

Posted here for traffic, being asked for answer asap..... and AIBU scares me.

DH and I are (mortgaged) homeowners, I'm expecting DC1 in a few weeks. We have worked & saved hard in preparation for the new arrival and mat leave. Relative & OH had a business but is packing it in as it's not what they expected it to be. They will lose their home with their DC, one party will be unemployed for a time. They intend to rent and need a guarantor who is a home owner so have asked us.

I have asked for more info as I am not comfortable securing our home against their tenancy. Frankly they seem to have a cavalier attitude towards stability and security, illustrated by abandoning a business/career/home for unemployment.... For the SECOND TIME in 18 months.

Is a home owner guarantor request common? What are we letting ourselves in for? Is our own home at risk? If you can help, any views, experiences or knowledge would be welcomed. TIA

34DD Wed 17-Jul-13 15:17:52

Message withdrawn at poster's request.

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