Property Guardian: My rights as a Guarantor?

[Wavyheaded]

My boyfriend needs to move home quickly (on the 1st) and wants to be a property guardian. Trouble is he unemployed at the moment and has asked me to be his guarantor, I agreed, but now I'm scared - the more I read about it it seems I could be liable for life?? I want to help him but I don't want to sign any legal documents - what If we break up? What if I lose my job - am I still liable and can they take me to court/Jail? It seems a much bigger thing than I thought it was. I know property companies can be notoriously money-grabbing and mercenary.

I'm thinking I just lend him some money and he could find some lodgings somewhere instead - he's suffering from depression/illness and I don't know how to break it to him that I don't want to do it any more.

We can't live together as things are a bit complicated for me where I live.

Any advice?! Where can he live instead if he's unemployed?

Or am I worrying too much? I'm helping him with his rent for the first couple months as he is actively looking for a job and then he will take over, or move to a normal rented property.

If he doesn’t pay, you would be liable for the full amount.

If he needs a guarantor, they won’t let him take the property without a guarantor signing a legal document.

So it’s a really big thing. If you do this you will be on the hook.

Property guardianships aren’t like normal leases (they’re deliberately written to ensure the guardians don’t have normal tenant rights), so you’ll need to look at the terms of the contract really carefully to see how long you would be liable.

Being a guarantor means you are 100% RESPONSIBLE FOR THIS DEBT. No ifs, and or buts about it. This could literally ruin you.

You would be crazy to do this. Tell him the answer is NO and don't feel guilty about it for one second.

Do not do this.

Do not do it.
If you insist on going ahead, get proper legal advice.
You won't be able to just terminate if you break up.

echoing everyone else.

Please don't. This could come back on you years down the line and you would be liable. Happened to a relative 3 years after signing g up as guarantor for a friend he had then fallen out of touch with. He ended up being in the hook for 4 months rent AND all the eviction costs. It was not pretty.

Be honest. Say you've looked at the legalities and long term implications and you are not in a position to deal with it. As soon as you sign that document you're liable. Dont

Thanks for your replies. I've told him I'm not going to do it and he's OK with it. I guess we were both feeling desperate. I'm so glad I asked on here and put the brakes on :)