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Buachaill, Barrister
Category: UK Law
Satisfied Customers: 10268
Experience:  Barrister 17 years experience
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My friend has acted as a Guarantor on a lease agreement

Customer Question

My friend has acted as a Guarantor on a lease agreement for a flat. The tennant has not been paying rent as per agreement and the landlord has agreed with the tennant that instead of paying 420 pounds per month he could continue as a tennant at 600 pounds until outstanding debt repaid. My friend has not been contacted about the failure nor about the change in terms. Is she still fully liable as Guarantor?
Submitted: 1 year ago.
Category: UK Law
Expert:  Buachaill replied 1 year ago.

1. Whilst a change in the terms of the underlying debt obligation which increases the risk of the guarantee does allow a guarantor to be excused from liability on a guarantee, the change in this situation is not sufficient to give rise to a removal of the liability of your friend on the guarantee. this is because there merely has been an arrangement in relation to outstanding rental monies, for which the guarantor would be liable in any event. There has been no increase in the risk under the guarantee. So I regret to say that your friend would not be excused from his guarantee in this situation.