Deed of Release of Guarantor

This Deed of Release of Guarantor is used to formally release a guarantor from a tenancy agreement.  It is typically required where a tenancy is assigned or surrendered and the outgoing tenant's guarantor must be discharged from future liability. 

When Is A Guarantor Release Required?

The Landlord may have required the tenant to provide a guarantor at the start of the tenancy agreement. This is particularly common in student lettings, where a student may not  have established credit history or sufficient references. 

If the tenancy agreement is assigned to a new tenant,  or the tenancy is surrendered, the outgoing tenant’s guarantor should be formally released.  Without a written release, the guarantor may remain legally liable under the original guarantee. 

Tenant Fees Act 2019 - Can A Landlord Charge A Fee?

Under the Tenant Fees Act 2019, landlords in England cannot charge more than £50 for agreeing to vary or assign a tenancy agreement requested by the tenant, unless higher costs are reasonable ( and a landlord must be able to provide written evidence (invoices/receipts) which show that these costs are reasonable).   Landlords should ensure compliance to avoid financial penalties. 

What Does This Deed Cover?

This template releases the outgoing guarantor from future liability and provides a clean discharge of obligations. 

Optional phrases / clauses are enclosed in square brackets. These should be read carefully and selected so as to be compatible with one another. Unused options should be removed from the document.

This template must be executed as a Deed to be legally effective. This means that it must be signed and properly executed and witnessed by an independent adult to be legally binding. 

This Deed of Release of Guarantor is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.

Once you have purchased access to the appropriate document folder click on the “Download Document” button below. You will be asked what you want to do with the file. It is recommended that you save the document to a location of your choice prior to viewing.

Deed of Release of Guarantor is part of Property. Just £38.50 + VAT provides unlimited downloads from Property for 1 year.