I applied for a home loan on my existing property which is registered in my name. I currently have a private bond registered on the property (my dad being the bond holder) I gave all the required documentation including a copy of the title deed of the property to be bonded and a letter from my father stating that he is willing to relinquish the bond. All this information was sent to the home loan department. Last week a bond was preapproved for R500 000 (as apparently this was what I asked for although I requested a bond to the value of the property - to be determined by the bank) on my fathers property! So a preapproved bond in my name on a property that I did not give the bank the details of. The person at the branch has been following up on this problem but has had no response on this issue from the home loan department. Some person at the home loans department has made a stuff up. How do you read communication and get the bright idea to go and look up a property registered in my fathers name if I supplied the title dead of the property to be bonded.
So how long does a person have to wait for the problem to be fixed and the correct bond to be approved?
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