AfricaComplaints.com » Business & Finance » Complaint / review: Absa - WARNING – ABSA HOME LOAN - CHECK REPAYMENT PERIOD | #4863

Absa
WARNING – ABSA HOME LOAN - CHECK REPAYMENT PERIOD

Please check your 1st home loan repayment period when applying for a 2nd home loan at ABSA. ABSA changed our original home loan back to 20 years when we applied for a second home loan (actually, they have done it twice). We lost 13 years of payment towards our original home loan with this process. The original loan we had since 1994 should have been paid off by 2014 but with the registration of the 2nd loan in 2002 (repayment period=5yrs) the original home loan period changed to 2002 20 years = 2022 and with the re-use of the 2nd loan in 2007 (repayment period=5yrs) the original home loan period changed to 2007 20 years = 2027. This means we had to pay off our original home loan in 33 years (1994-2027). We complained and never got a feedback (our file got "lost" during the enquiry period etc). According to us this is an open complaint. We took the case to the Ombudsman and because ABSA never replied to our enquiry within a 3 year period our case were not valid. Please check your ABSA home loan statement immediately. If you have a similar case please get the Ombudsman involved (follow their process) to resolve you case. ABSA should not get away with this one more time.

Date:

Company: Absa

Country: South Africa   City: Menlyn

Category: Business & Finance

0 comments

Information
Only registered users can leave comments.
Please Register on our website, it will take a few seconds.




Quick Registration via social networks:
Login with FacebookLogin with Google