These fee- charging bank accounts...

skintdragon

_pale_

Anybody out there who has one of these?

I can't say I am keen on the idea of opening an account with a monthly fee of £12.95; although the more I sit here and think about it the more confused I have become.

Bear with me as this is a long and drawn- out story!

I went to RBS (alarm bells!!) to discuss the possibility of taking out a mortgage; ok I know I can also go to the brokers for advice (I will do this), but as I had some problems with trying to clear my direct debits on a couple of occasions before christmas (I was working ad- hoc for about a year and didn't have a regular salary coming in at the beginning of the month, when my DDs came out, etc), I may have given my credit rating a massive blow. Anyway my circumstances have changed over the last 4 months; new job, better paid salary, cleared huge visa credit debt, and keen on buying a house. I rang London and Country (brokers) explaining the above, and they suggested I approach my own bank to see if they could provide me with a mortgage because L&C don't think there will be anywhere out there that will consider offering me a mortgage as I have yet to save for a deposit. I am currently saving up for a deposit- argh- not been able to do this before. I figured I should be able to drum up about £9000 over the next 3 months if I lived on baked beans on toast. L&C advised this because they believe my relationship with RBS will allow me to stand a better chance of being accepted for a mortgage.

After a lengthly discussion with RBS today, she asked about other outstanding costs e.g. what I paid for breakdown cover and car insurance (both with Direct Line- falls under RBS). In a nutshell, the lady says for £12.95/ month (or £155.40 annual), that would more or less cover the cost of my breakdown cover (I paid about £137 couple of months ago on extended cover) and with the difference I would be getting the "additional benefits" of the Royalties Gold account. It might even provide me with a better mortgage deal.

I didn't sign up for it and said I need to have a think. So, here's where I look to you lot out there for a kick up the you- know- what!!!!

Your thoughts please! :T

spongebob69

I have Royalties Gold and was wondering if i should cancel until i broke down and had to be transported home by Green Flag. So im glad i didnt cancel.

You need to work out if the cost of phone and breakdown cover exceeds the £12.95 monthly fee because most of the other stuff is useless!!