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Original poster

Can't believe no friends will act as guarantors - why do they think they have to pay?

589 replies

IWillAlwaysBeinaClubWithYouin1973 · 14/05/2025 23:20

I mean do they literally think I am going to refuse to pay my rent?

Split from H last year, my home of over 30 was sold I have the equity in the bank still because I've just pulled out of a house purchase and decided to continue renting. Found a new flat within days now I am actually scared I'm not going to get it, nor anything else to rent, unless I have a guarantor. New letting agents/landlord not accepting equity, they want a guarantor as well as 6 months in advance.

I've just stood guarantor for my youngest DD and her uni flatmate, didn't think twice. I know what's involved, I would have thought it's obvious you assume the person will pay their rent - surely you just use your judgement? But had some awkward conversations with friends - we're all professional people, but they actually they think its going to affect their credit rating, ability to get a mortgage and that it will "stretch them financially"? I work, have the equity from the house in the bank, I'm 60 bloody 2! How much of a flight risk do I appear to these friends?! So far 2 said no, 2 ghosting me, I need to provide info to the agent first thing in the morning. Going to move on further down my list but it's getting more and more tenuous. I feel a bit sick to be honest.

Do you know what a guarantor is/does or would you too think you stood a reasonable chance of losing £000s, or even that I was actually asking for money in some way? Is it something that people just don't feel comfortable to do?

OP posts:
Original poster
IWillAlwaysBeinaClubWithYouin1973 · 14/05/2025 23:34

But how would you know this if you'd never needed a guarantor before? I've done it for friends before too so I really didn't expect this - however, I can see now how many people would find it uncomfortable to say the least. Bugger.

OP posts:
murasaki · 14/05/2025 23:34

It does seem odd that they'd need a guarantor if they've already agreed that you can pay for the whole tenancy up front. I guess maybe they think you won't leave at the end and they'd have to go through the hassle of eviction. But it does seem a bit weird.

murasaki · 14/05/2025 23:35

IWillAlwaysBeinaClubWithYouin1973 · 14/05/2025 23:34

But how would you know this if you'd never needed a guarantor before? I've done it for friends before too so I really didn't expect this - however, I can see now how many people would find it uncomfortable to say the least. Bugger.

Most people would look up the implications of what they were being asked to sign.

But fair play for admitting it was a bad move. And good luck getting your move sorted.

ButteredRadish · 14/05/2025 23:36

It’s now illegal to require 6 months rent in advance

DuesToTheDirt · 14/05/2025 23:36

I wouldn't do it, except for a child. I refused to be a guarantor for my child's partner.

kiwiane · 14/05/2025 23:39

People don’t want to take a risk if they can help it. You’ve readily been a guarantor for your daughter and her friend - she could default and leave you to pick up the bill. Things can change quickily at your age - I would ask a family member rather than ask a friend.

PoopingAllTheWay · 14/05/2025 23:41

I would never do it for anybody

JohnAmendAll · 14/05/2025 23:41

In all Victorian novels the father's advice to his son is always "Never back a friend's bill".

I wouldn't be a guarantor for anyone including my children.

sesquipedalian · 14/05/2025 23:43

OP, you’re being shockingly unreasonable asking your friends - I can quite see why two of them are ghosting you. You are in essence asking your friends to risk having to pay your rent - why would even a close friend sign up to that?

JHound · 14/05/2025 23:45

I would never be a guarantor for anybody except my mom. Also the fact they don’t want to rent to you would be a red flag imo.

IberianBird · 14/05/2025 23:46

My word entitled much?

Ohfuckrucksack · 14/05/2025 23:47

We avoided it for our student child by paying the whole year up front.

That's how much we did not want to be a guarantor.

I detest the practice. If you are a landlord, you have to put up with some uncertainty along with the money.

JHound · 14/05/2025 23:47

IWillAlwaysBeinaClubWithYouin1973 · 14/05/2025 23:31

I'm sort of glad I asked because now I can see I was unrealistic. I've got one family member I can ask in the morning and then after that its Ex-h or nothing.

Just for people saying offer a year in advance, it's a 6 month rental and I've already agreed to 6 months upfront.

So what do they need a guarantor for?

KievLoverTwo · 14/05/2025 23:47

Here's another perspective: YANBU, the rental agency are.

We were in exactly this position in 2021. We were leaving London for the Midlands, we had 20k in the bank, credit ratings above 800 each (it goes up to 1000), 85k PA income, no kids, no debts, a solid landlord reference and my OH had been employed by his employer for the last five years (which is a long time in IT).

The agency - after asking for six months' rent upfront, then called us back and said 'can you also provide a rent guarantor as well?'

Err, you want me to crawl around my mates asking for favours after the above? Absolutely bloody not.

We didn't. No other agency before or since has ever asked us for such a ridiculous amount of financial safeguarding.

To note: this ONLY happened during covid, when people were losing their jobs left, right and centre.

Tell the agency to piss off. Find a normal rental with a normal agent and a not completely crazy landlord.

As an aside, the agent later called us back and said 'do you know x person, who used to live in the rental you're applying for?'

Huh? We're moving three counties away. Don't know a single person there.

I think the LL had previously had a rent and run or something.

Some of them are just batshit crazy protective (or have very poor or no landlord's insurance whatsoever, which is almost certainly the case with your prospective LL).

We're three more rentals down since the above, and not one single agent has ever asked us for anything as unreasonable since.*

(and yes, I absolutely would be a guarantor for a trusted friend if I actually owned a home, which I do not).

*three months unedited bank statements and full credit reports from us, not through a credit reference agency - no actual extra money nor guarantor

KurtShirty · 14/05/2025 23:48

many people on here have no idea if the realities of renting it seems. It’s fucking tough out there, OP clearly doesn’t have a huge amount of options. I’d do it for a friend

murasaki · 14/05/2025 23:48

I remember an episode of 'don't pay, we'll take it away' (don't judge too much, I had a day off and was bored) where a lovely elderly couple were doorstepped by court appointed bailiffs demanding cash as their feckless daughter had stopped paying the rent and they were the guarantors. And then she was filmed saying she didn't care.

JHound · 14/05/2025 23:49

KurtShirty · 14/05/2025 23:48

many people on here have no idea if the realities of renting it seems. It’s fucking tough out there, OP clearly doesn’t have a huge amount of options. I’d do it for a friend

I rent and have never been asked for a guarantor. And if I eas paying six months in advance on a six month rental I would think asking for a guarantor is suss af

doodahdayy · 14/05/2025 23:52

The only person we asked to be a guarantor many years ago was fil. I wouldn’t have dreamed of asking friends to do this. My dh turned his sister down a few years back and rightly so as she’s a liability

Communitywebbing · 14/05/2025 23:52

IWillAlwaysBeinaClubWithYouin1973 · 14/05/2025 23:34

But how would you know this if you'd never needed a guarantor before? I've done it for friends before too so I really didn't expect this - however, I can see now how many people would find it uncomfortable to say the least. Bugger.

Yes, bugger since you’ve generously guaranteed for other people without ill effect, though it can easily turn into a big problem, linking your finances to a friends. I hope the family member can help. 🤞

Bumblerbum · 14/05/2025 23:52

It's a huge ask. Bil asked us to do it for him, we said no. If anything happened and we were liable for his rent on top of our mortgage we'd have been fucked. It's not fair to expect other people to take that risk for you, you never know what's around the corner.

healthybychristmas · 14/05/2025 23:53

IWillAlwaysBeinaClubWithYouin1973 · 14/05/2025 23:34

But how would you know this if you'd never needed a guarantor before? I've done it for friends before too so I really didn't expect this - however, I can see now how many people would find it uncomfortable to say the least. Bugger.

Could you ask those friends?

doodahdayy · 14/05/2025 23:53

JHound · 14/05/2025 23:49

I rent and have never been asked for a guarantor. And if I eas paying six months in advance on a six month rental I would think asking for a guarantor is suss af

Show quote history

I needed a guarantor as I had a ccj on my credit file many years ago. The average person doesnt so I can see why people wouldn’t be keen

EconomyClassRockstar · 14/05/2025 23:54

I have and will happily be a guarantor for my children. For a friend in their 60s? Nope.

Bananafofana · 14/05/2025 23:55

Like many others I would only be a guarantor for dc (and even then one of them id probably say no!). A year of banking law at law school and reading dozens of sad cases from a hundred years ago has left me in no doubt about the massive risk one takes as a guarantor…I think you should back off from asking friends and perhaps even apologise for being so presumptuous as to ask.

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