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Home Owner Guarantor?

(3 Posts)
Debs75 Thu 18-Aug-11 20:04:53

We are looking at renting privately and the properties we are interested in all say we need a 'home owner guarantor'

What will they be liable for?
We are going to ask dp's grandad as he is the only close family who owns a property.

narmada Thu 18-Aug-11 20:22:01

Not entirely sure but I wonder whether they want someone with their own house so they can place a charge on the guarantor's house if you default substantially on your rent....seems a bit harsh to insist on a guarantor being a home owner IMO.

Debs75 Thu 18-Aug-11 22:00:03

That is what i thought at first. although for us it won't matter as we will always be on HB, until ds moves out.
The agent yesterday mentioned it was now no security deposit so wondering if they would persue the home owner if we left a mess?

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