First National Bank
FALSE HOPE

I applied for a Home Loan. A couple of days later I received an email from a consultant saying I've been approved for the Home Loan. The same day we had another FNB consultant that visits our company every week. Before getting all excited I contacted the consultant asking her if I could get excited that it was approved in principle, she confirmed that it is good news should the valuation of the house be positive. An hour later I was informed by the first consultant that I was approved but only for half of the required amount. I've been been servicing my current loan for nearly 10 years and cannot understand why now it is an affordability issue. I consider it unethical of FNB not to disclose all the facts when approving a Home Loan in principle. Why in the world do you want to valuate a property if you are not giving the client the full amount applied for???