I recently applied to switch my bond to my bank, FNB for R900 000. On Monday, 13 May 2013 i received an agreement in principle for R900 000 pending the evaluation which was to be done on the house. The sales consultant i was dealing with Mr Gcina Godlo explained that if the evaluator states that my property is less than what i want to register my property for he will then contact me and work on a new quote. An evaluator came to my property on Monday, 13 May 2013. Two days later the sales consultant contacted me and said that based on the evaluation of my property, it is worth R850 000. And i have done a lot of renovations in the property which cost me about R50 000. I bought the property in early 2012 for R830 000. He further explained that FNB was only willing to register the bond only R722 000 because of the area the property is located in. He added that if i were to find another property in another suburb FNB would grant me the R900 000 loan. I'm very disappointed with FNB, after giving me the agreement in principle and later change. Just because i live in a suburb where home owners are mostly black FNB will not register my bond for full amount
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