Fixed Term Bonds: Terms and Conditions

Ziggyplus

Read small print carefully. Not all banks/building societies allow 14 day cooling off period. Important as interest rates change upwards almost daily. Kent Reliance and Charter are under same umbrella ownership but adopt very different approaches.  Kent Reliance allow 14 day cooling off and staff draw to attention of customers and encourage use if interest rates increase within period. Charter take opposite approach (as they are legally entitled to): no flexibility once deal is signed. I was assuming, wrongly, that 14 day cooling off was law. Not so and I have missed out on over 1% extra on £50k with Charter.  My own fault but maybe others could benefit from my experience; I am not aware if Martin has drawn attention to this issue,

Albermarle

Some providers promise to keep the same rate or increase it if their offer is increased within the 14 day period. Aldermore for example.