Standard Bank
Can't finalise home loan agreement

Towards the end of last year my wife and I approached Standard Bank for a home loan using a bond originator. The originator's service was excellent and Standard Bank offered us a pretty decent rate. They sent through a loan agreement for us to sing in January of this year. We provided all the necessary document and signed the agreement. Then in April their lawyers contacted us saying they need something called a "Declaration of foreign assets" because my wife is only a temporary resident of South Africa. They couldn't tell us exactly what this document was, and neither could our own bank, Capitec. Not even their lawyers could tell us what to get. A couple of weeks later their lawyers contacted us with a new loan agreement which required no declaration of foreign assets. We signed this agreement thinking that finally after 4 months we were sorted. Then, about ten days ago they sent a FOURTH contract!!! This one again required the declaration. The lawyers have no idea what to do. Our bond originator has approached the registrations division and has had no response. This is so frustrating!! We don't know where else to go. It's almost like they don't want our business...??!!!

Company: Standard Bank
Country: South Africa
City: Cape Town

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