My husband and I took out a Jumpstart Loan with Standard Bank five years ago. The purchase price of the house was R390.000. We took out an extra R100.000 to build on a Grannyflat. Standard Bank paid the R390.000, however the R100.000 had to be paid out in stages as we commenced with the Grannyflat. The total of the house cost us R490.000. The first draw we sent, Standard Bank paid R6000.00. The second draw, we were told that too little work was done we could not be paid out. We used our own savings which was R20 000, and put that into the Grannyflat. We then approached Standard Bank in Thibault Square, Cape Town, and discovered that we were approved for a Building Loan that we never signed for. Our first instalment on the house we were already paying for the R100 000, but only received R6 000, the rest of that loans money were never paid out. No answer was given to where the money has gone. Up until today Standard Bank cannot answer. Our house is currently in arrears and we already appeared in The High Court. Anyone Help!!!
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