10:08 AM, 8th June 2021, About 2 months ago 22
We have stood guarantor for a rental property for almost 2 years to allow the tenant to build up their credit rating. Up to now, the AST has been renewed every 6 months, and we have had to resign as guarantor. The landlord has now decided not to renew the lease and allow it to proceed as periodic. We do not see the need to stand guarantor any longer as the tenant has a credit rating now.
The tenant does not want to move and is happy for the current situation to continue. We would prefer not to be guarantors any longer than necessary as it affects our credit rating in terms of acquiring new mortgages for other rental investments.
Can we give notice on the tenancy as we are joint and severally liable?
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