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Aldermore: stopping before it starts
infiniteloopyness
Posts: 1 Newbie
I very recently opened a Fixed Rate Bond with Aldermore and they'll be taking my deposit by Direct Debit on the 31st. I know that with Fixed Rate Bonds you don't get a cooling off period, and with this bond you can't close early.
However I have now changed my mind and really don't want to go ahead with the bond. I accept that if the money was with Aldermore now I wouldn't have a leg to stand on but since the money's still with me do you think it it would be OK to just cancel the DD with my bank to prevent the funds being taken - or would that be breach of contract?
I've looked through the Aldermore T&Cs and it has nothing to helpful either way on the subject.
Any thoughts?
However I have now changed my mind and really don't want to go ahead with the bond. I accept that if the money was with Aldermore now I wouldn't have a leg to stand on but since the money's still with me do you think it it would be OK to just cancel the DD with my bank to prevent the funds being taken - or would that be breach of contract?
I've looked through the Aldermore T&Cs and it has nothing to helpful either way on the subject.
Any thoughts?
0
Comments
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infiniteloopyness wrote: »I very recently opened a Fixed Rate Bond with Aldermore and they'll be taking my deposit by Direct Debit on the 31st. I know that with Fixed Rate Bonds you don't get a cooling off period, and with this bond you can't close early.
However I have now changed my mind and really don't want to go ahead with the bond. I accept that if the money was with Aldermore now I wouldn't have a leg to stand on but since the money's still with me do you think it it would be OK to just cancel the DD with my bank to prevent the funds being taken - or would that be breach of contract?
I've looked through the Aldermore T&Cs and it has nothing to helpful either way on the subject.
Any thoughts?
Phone them up & tell them you don't wish to proceed & that you're cancelling the DDI.
Make sure you make a note of the person you speak to and the time/date.0 -
Old_Slaphead wrote: »Phone them up & tell them you don't wish to proceed & that you're cancelling the DDI.
Make sure you make a note of the person you speak to and the time/date.
Agree - and follow it up by sending a confirmation by email and/or letter.“When the customer comes first, the customer will last”0 -
infiniteloopyness wrote: »I know that with Fixed Rate Bonds you don't get a cooling off period.
Not always true. Many do.
So, did you get to keep your money?0
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