I applied for a bond with FNB in February and was approved to purchase a CC and a home it contained. The only requirement I had was to have an Access (Flexi) bond. FNB advised that due to the circumstances of the deal, I would not be able to gain a bond in my personal capacity, but that the bond would be registered to this CC. This brought my bond amount down, while increasing the interest rate.
6 months later FNB advises me that I do not have access to a Flexi account as the bond was not correctly registered in the CC's name, but in my personal name! This while my bond amount was decreased and my interest rate was increased as FNB claimed that having the bond registered in the name of the CC was higher risk.
At no point during the process was any of these problematic technicalities explained to me. I was, however, led to believe that I would have a bond registered with the Flexi facility loaded.
I am very disappointed by the process and the negative feedback I receive from FNB when querying this with them, they selectively use portions of the agreement for enforcement, when it is actually a contradiction to their claims and promises made.
I have the evidence to back this up.
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