fixed rate bond

beattiesman

have a fixed rate bond with yorkshire building society paying 1.65% it matures in december this year is it possible to close this early as they have a fixed rate bond now paying 4.05%.

ColdIron

It's a fixed term account so no, unless you meet one of the criteria below (which are generous compared to many others)

Critical or terminal illness, death, redundancy, nursing home or elderly care costs, divorce or court order

Albermarle

No you can not. It might seem a bit harsh, but if it was the other way around and rates were dropping and they stopped your fix rate, and transferred you to a lower rate product, you would not be very happy.

Thumbs_Up

beattiesman said:

have a fixed rate bond with yorkshire building society paying 1.65% it matures in december this year is it possible to close this early as they have a fixed rate bond now paying 4.05%.

Interest rates won’t be dropping now or by December. Just chew the bone for now.

Millyonare

Probably worth giving them a call and see if they can work something out.

There are also much higher rates available elsewhere, like AR Bank, nearer to 5%.

mebu60

beattiesman said:

have a fixed rate bond with yorkshire building society paying 1.65% it matures in december this year is it possible to close this early as they have a fixed rate bond now paying 4.05%.

No. Unless you find yourself in truly exceptional circumstances as defined by YBS.

Many of us are sucking up fixed terms now lower than easy access. I have an HTB 1 Year Bond due to mature 4 July at 2.6%. I was very happy with that 10 months ago! Am in the process of taking out their current 1 Year Bond at 4.91%.