Standard Bank
Second Bond Application / Internal Issues

I applied for a second bond last year. The amount was approved and we have signed at the attorneys and the bond has been registered at the deeds off. Now when it comes down to make the payment to the attorney just more that 50% of the original approved bond amount was paid over. On calling the Home Loans call centre i was told that they dont no why the full amount was not paid as the mandate to pay was approved for the full amount and the problem seems to be with the registering office of the bank. It seems that they have captured the original bond amount and the new amount together and this exceeds the 90% of the house value, hence the reason why they wont now pay the balance of the loan that was approved.
The lady in the call centre spoke to her manager and he also confirmed that he doesnt understand what has happened and i need to lodge a complaint with the complaints department. I spoke with Hanelie there and she said it would take up to 8 w/days to get an answer.
I dont understand how the bank can approve a loan and then after registration with deeds office now come back with problems & not pay. I asked for this to be a urgent matter and was told that it goes into a cue?

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

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