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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

to not want dh to be a gurantor for his sister.....

18 replies

plusone · 01/06/2008 17:32

my sil wants dh to be a gurantor for a property she wants to rent. Im not particularly happy about it as she is crap with money and has loads of uni debts to pay and is thinking of taking out another loan.She will be on a starting pay of 21k and this is her first flat which is far away from home.It is completely brand new and furnished.We would be responsible for the rent , outgoings and any damages if she cannot pay. If dh agrees to be a gurantor and she fails to pay we would not physically to be able to cover the rent.According to her its just our names on paper and she will be responsible for everything.We both like to help but im not sure is we can afford to take the risk as dh is currently coming out of the services and taking a drop in pay plus we have two young children to support and im just not convinced shes ood for her money.

OP posts:
ShinyPinkShoes · 01/06/2008 17:34

No, no no absolutely do not do it!

You could end up in the most dreadful mess.

littlelamb · 01/06/2008 17:38

I can see your concern. It is not just a name on a piece of paper, you would be signing a legal document saying that you will pay her ret if she defaults on it. Lettings agents will usually only consider people to be guarantors if they own their own home- is there any way that you could tell her that you don't? I can see her difficulty, but if she has a job I can't really see why she needs a guarantor? Unless her credit check with the estate agent has revealed her as a risk, in which case as harsh as it seems you are probably right to be cautious. I am not sure that her student loan would count against her on that kind of check though, does she have other big debts?

Quattrocento · 01/06/2008 17:40

It's a binding legal obligation which I would be very reluctant to enter in to with someone in considerable debt.

Original poster
plusone · 01/06/2008 17:58

shes under the age of 25 which is why she needs a gurator money. Shes 2k into her over draft and owes money to other family members. Her partner is moving with her but doesnt have a job and their relationship seems a bit rocky. Im scared that she may bolt it if things dont work out as this is her first job and first time away from home.i know dh really wants to help and we are only resort i think he will do it out of guilt. Shes already paid a holding fee of £300 which shes barrowed and ill lose that if it falls through.

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Kimi · 01/06/2008 18:04

Don't do it.
DH was a gurantor for my sister on a topshop card, that we ended up paying £4000 on
We also got blacklisted and could not get a morgage [sp].

I would not do it again, it is too big a risk

littlelamb · 01/06/2008 18:06

That doesn't sound AT ALL right. I used to work in a lettings agents and being under 25 will have nothing to do with it If she has her boyfriend living with her that will certainly have implications- his being unemployed will also mean that he will need a guarantor, if not 6 months rent upfront. If she hasn't declared that he wil be living wiht her then in some respects it is even worse as she will be responsible for the whole rent rather than just the half she would be otherwise, not to mention the implications for counciltax etc if he is living there without being on the tenancy agreement. If the landlord found out there was an undeclared tenant he is within his rights to terminate the contract. I think you should ring the estate agents direct and find out what is really going on. The under 25 thing sounds very unlikely to me- more than likely she has had a bad credit check come back and is too embarassed to tell you

cornsilk · 01/06/2008 18:07

Don't do it.

Original poster
plusone · 01/06/2008 18:26

could it because she is a studnet then littlelamb she wont start her job until september. Im getting a bit pissed off because dh thinks she is big risk but maybe swayed becase shes his sister and she has no one to ask.

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lulumama · 01/06/2008 18:31

the fact she sees it as just names on paper means she has no real concept of what it means to be a gurantoor. if you cannot cover the bills in the event she defaults, or you have a strong feeling she would default, then you must not do it.

especially if she is crap with money

you would not sleep at night !!

beaniesteve · 01/06/2008 18:32

OK - I was until recently 2K into my overdraft and earned a similar amount. I was basically never in the red even after my pay went in. She won't be earning enough to even start paying off that debt and at some point her bank will offer her a consolidation loan, if she hasn't had one already, which will push her more into debt, so I say don't do it!

littlelamb · 01/06/2008 18:59

Ah, if she is a student then yes she would need a guarantor. But to suggest it is because she is under 25 is wrong. If she does not start her job until Septemer why on earth is she looking at getting a flat already? And if she had to borrow the £300 application fee how does she intend to cover the rent over the Summer? This sounds like such a bad idea, and she obviously has no concept of what she is signing up for. If it is possible, the best solution would be for her to keep living with her parents for at least the new year so that she can save up some money to have enough for a deposit and the first six months rent should he need it- thus negating the need for a guarantor and also giving her an idea if she can actually manage her money.

warthog · 01/06/2008 19:05

don't do it! she wants to have her cake and eat it! if she couldn't afford the deposit, she definitely won't afford the rent ESP. if her job doesn't start til sep!

she needs to grow up and start living in the real world. stay at home with mum and dad and get a temp job somewhere to start paying back some of her debts and save a deposit.

if you help her out now, you are NOT helping her out. the sooner she learns this lesson the better.

partaria · 01/06/2008 19:47

what warthog said.
Really it looks quite clear she can't afford this flat. She needs to think of another option.

nancy75 · 01/06/2008 19:51

if you act as a guarantor i think you will be credit checked in the same way that she has been, if you dont earn enough to cover her rent and yours they probably wouldnt accept you as a guarantor anyway - this is a good way for you to tell her you are not doing it without saying we dont trust you and causing an argument!

nametaken · 01/06/2008 19:53

Don't do it. You are a couple with 2 children. They are a couple with no children. You shouldn't be bailing them out financially.

Be prepared for her to sulk and cry and scream because you actually dared to say the word "no" to her. She will blame you (not your dp) so I suggest he's the one who says no. Also, be prepared for her not talking to you for about 2 years because you didn't give her want she wanted.

Say no, be prepared for the fallout and get on with your lives.

Saggarmakersbottomknocker · 01/06/2008 19:58

Bad Idea.

Original poster
plusone · 01/06/2008 21:40

i hope i know he doesnt want to fall out with them but obviously its just a risk as she has proven she is not good with money. I think he just wants to give her the benefit of the doubt because shes a student and hopefully shed able to sort herself out but at the same time she may not grrrrr

OP posts:
Original poster
plusone · 01/06/2008 21:40

i hope i know he doesnt want to fall out with them but obviously its just a risk as she has proven she is not good with money. I think he just wants to give her the benefit of the doubt because shes a student and hopefully shed able to sort herself out but at the same time she may not grrrrr

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