We applied for an extension of our bond, in order to renovate. We were told it won't be any problem if we apply to extend our bond with R400000.
Although we qualify with my husband's income (he's a civil Engineer) without my own business' income they sent our application back with request for my financials.
Then because we let our other property they insisted on Lease documents. (WE don't need that income to qualify.)
This finalisation of all documents dragged on for more than 8 weeks. Each time we made enquiries we were told something more was needed and they came up with ridiculous excuses..
Then we were told it will go through in a few days. At this late stage the bank sent an evaluator to our house which is a building site at the moment and because of that the house was valued much lower than realistic. R79000 more than our existing bond.
Today we heard the bond was approved, for R79000. The renovations will cost much more than that..
It is so ridiculous that we started making enquiries at another bank who valuated our house and said it won't be a problem to transfer and extend our bond, the only problem is it will take 90 days.
We are extremely disgusted with ABSA's service
0 comments