Hello,
We put the proceeds of our previous house sale into 12 month fixed term deposits (across 3 banks) and its locked away until February 2010.
We're currently renting and hadn't intended buying until early 2010. However, a house has come up that we like and we're wondering what kind of penalties the banks apply for withdrawing before the term is up?
From what I can tell, they have fairly complex formulae for working it out.
I'm just wondering what kind of ballpark figure it would be?
Basically, would all the interest earned to date (6 months nearly) be shot?
We're pretty OK with waiting (who knows the house may still be available in 6 months) and letting the house go if need be, - just wondering really....
Thanks.....
We put the proceeds of our previous house sale into 12 month fixed term deposits (across 3 banks) and its locked away until February 2010.
We're currently renting and hadn't intended buying until early 2010. However, a house has come up that we like and we're wondering what kind of penalties the banks apply for withdrawing before the term is up?
From what I can tell, they have fairly complex formulae for working it out.
I'm just wondering what kind of ballpark figure it would be?
Basically, would all the interest earned to date (6 months nearly) be shot?
We're pretty OK with waiting (who knows the house may still be available in 6 months) and letting the house go if need be, - just wondering really....
Thanks.....