Early closure of a Fixed Rate Bond .. Possible or Impossible???

jaqui59

I opened a 1 year fixed rate bond a couple of months ago ... Now I am finding, due to totally unforseen circumstances that I need that money. The terms and conditions state that the only time the money can be accessed within that year is due to the death of the holder of that bond.

Im just wondering has anyone on this forum had success with an early closure.

rb10

Have a look at this thread from a few days ago:
http://forums.moneysavingexpert.com/showthread.html?t=1445985

Although the T&Cs of this account at Lloyds stated clearly that there is no way of getting the money before the maturity date, in post 5 Xinpei said it was looking promising. Unfortunately no word yet of whether it was successful!

It's always worth a try in asking them. Nothing to lose.

Be aware though that there may be a loss of interest.

zaksmum

I closed my northern rock bond at the time of the run on the bank. It had four months still to run but I just wanted out.

There was something like 60 days loss of interest, you have to balance that against how much you need the money.

It's certainly worth asking.

fatpig_2

jaqui59 wrote: »

I opened a 1 year fixed rate bond a couple of months ago ... Now I am finding, due to totally unforseen circumstances that I need that money. The terms and conditions state that the only time the money can be accessed within that year is due to the death of the holder of that bond.

Im just wondering has anyone on this forum had success with an early closure.

Easy one. Fake your own death and get hubby to collect the cash