Used to have a bond with Imperial Bank since 2003. Due to Nedbank takeover this bond is now managed by Nedbank. My bond is currently 450K on a house valuated at 2Milj. Wanted to borrow additional 400K for revamps and was told by Nedbank that they are just managing my acc and can not assist to increase same. Contacted old Imperial home loan div and was brushed off with the words that they only deal with professional people (?) I must see wether Nedbank will assist me any further. Needless to say I made another plan and contacted SA Homeloans. I was approved in 20min for almost double than I needed. Now I receive a document from Nedbank stating that they are charging me R7000 penalty for not giving 90 days notice to bond cancellation. I had my bond with them for 10 years, never missed a single payment, my credit record is good yet they will rather let me go to another institution and for this they punish me with R7000. Never had any problems with Nedbank, maybe because I was a good payer, but I am really disappointed in the way I was treated. Nobody really wanted to assist me and seemed like everyone I talked to was doing this huge favour for me. Sorry guys, no more Nedbank for me
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