fixed rate bond loophole to release before time

bellagem

i have a fixed rate bond which is due to mature end of october with santander. Problem is i need some of the money now emergency but they will not release some money. i have been told the only way i can get the money before the mature time is if i die..... is that true??? Help as if this is the case i have to take out a loan and pay interest!!

opinions4u

If that's what the t&cs say then it is the case.

xrjtg

Some providers occasionally show leniency in the case of "severe financial hardship", without expressing exactly what they mean by this. In general, when signing up for a fixed rate, fixed term product where you expect the provider to honour the fixed rate, you should expect them to expect you to honour the fixed term.

ses6jwg

bellagem wrote: »

i have a fixed rate bond which is due to mature end of october with santander. Problem is i need some of the money now emergency but they will not release some money. i have been told the only way i can get the money before the mature time is if i die..... is that true??? Help as if this is the case i have to take out a loan and pay interest!!

The T&Cs of a fixed rate bond with Santander is that you cannot withdraw the funds except under "exceptional circumstances" such as death or extreme financial hardship.

You will need to demonstate this, and the branch will need to fill in a "Close bond early form" which is faxed to Bradford, you will then need to wait 7-10 days for a decision to be made and a cheque to be sent to you.