Prior to this report we have had high regard for the display of service rendered by Nedbank; however it appears that Nedbank no longer has it's customer interest at heart and has resorted to false advertising and bizarre credit policies. There are numerous advertising material stating that Nedbank will grant bonds within three hours however this is a lie. We handed Nedbank all the necessary documents for processing of our bond application however after two weeks we were informed that Nedbank does grant bonds if a property was bought on Auction. After discussion Nedbank asked for further documentation and then proceeded to value the property. After a period of three weeks we were informed that Nedbank policy is not to provide bonds for student accommodation and multi tenancy. This is an unprofessional response as when we first applied for the bond, Nedbank was informed that this purchase was for investment purposes aimed at student accommodation. Had Nedbank been transparent about their lending policy the bond process would not have been delayed by three weeks. We find Nedbanks approach to lending deceitful and unjustified and urgently request a review of this matter.
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