Fixed Rate ISA 2 Year

JohnBoot

[FONT=&quot]My fixed rate ISA account is due to mature in a couple of weeks. But unfortunately I need to use the money in this account before this. The bank are saying the charge for me closing the account early would be about £400. Just wanting some advice as to where I stand do I just have to pay this or can the bank waive this fee? I know loyalty stands for nothing nowadays but just wondered as it’s literally 2 weeks before the maturity date is there anything they could offer. [/FONT]

jimjames

Unlikely if you signed up for a fixed term.


Is it not cheaper to borrow the money for that period of time or try to rearrange your plans to avoid needing it until later?

JohnBoot

No I need the money ASAP O well gone are the days when the bank manager said not a problem as we want to keep all our customers happy lol

bigadaj

JohnBoot wrote: »

No I need the money ASAP O well gone are the days when the bank manager said not a problem as we want to keep all our customers happy lol

How much are you talking about?

It may well be cheaper to take the money out on a credit card or get an overdraft, just a question of pricing up the different options and choosing the best for you.

JohnBoot

It's for a house purchase. We're talking 50k

Newly_retired

Have you exchanged yet? I.e. you now have a definite completion date?

If not, is there any scope for negotiating the date?

I was in a similar position, but in fact, exchange kept getting delayed and in the end I needn't have withdrawn money early. Frustrating.

bigadaj

Well it's only 0.8% on that sum.