Withdrawal of the guarantee

Hi, just wanted to find out what would I need to do if I decide to withdraw the guarantee for the property, I have signed a contract in December last year and I feel I can’t be a guarantor anymore. Do I notify the landlord and if my guarantee is withdrawn how that will affect the tenants?
Many thanks

You cant just withdraw a guarantee. You could ask the landlord to release you from it, if there is a suitable alternative guarantor they may, if not its very unlikely they would agree to it. The landlord may be willing to serve notice to end tenancy, however they are under no obligation to do so and you would therefore remain liable as per your agreement.

You can’t just decide you don’t want to be a guarantor anymore. You remain guarantor until either the landlord releases you or the tenancy comes to an end by the tenants moving out.

If it were yhat easy to withdraw fron a guarantor agreement landlords wouldnt bother with them.

Thanks for your replies. The tenants 6 months agreement came to the end few months ago and they are still living at the property and paying rent. However, if I’m financially unable (loss if work, illness) to be a guarantor I suppose landlord should agree that tenants find another suitable guarantee. In case they can’t, would they be given a notice?

A landlord doesn’t have to do anything! You are legally tied and you hope is to speak with the LL
and find someone else, the LL dosent have to give notice to tenants .
I know many who have tried getting out of their commitments and being a guarantor usually ends badly .
You need to talk and find someone else who is prepared to risk it .

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