Standard Bank
Building loan application

We applied for building loan (for a vacant stand) we submitted all the documentations 24 April2013, apparently the builder quoted us low, They valued the plan and told us is gonna cost us R2.1 m and the quote was R1.2 m they said we have to raise a shortfall of R906000.00.we called them and said why do we have to be penalised by the lower quote rather than the amount we are qualifying for? We went to pillar and post dealing with a whole lot of different people and no one could explain to us why, after that they called us to and said we have to review a quote and we did that R1.9, after submitting the revised quote they then to ld us on 25/05/2013 they can't give us a loan as the property is of a poor quality.we asked them what does that mean nobody could explain to us exactly what does that mean,

I am so disappointed with the bank as our application was handled by so many people and everytime we called we have to explain, even if we give them a ref no or the name of the person we dealt with they always say they can't locate the person.

we bank with them, they couldnt even tell us how much we are qualifying for. We still need an explanation and the reason why we were not given a loan.

Company: Standard Bank
Country: South Africa
City: Call centre

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