I have applied for an extension to an existing home loan we have with Standard Bank. I started the process in May 2013. I earn an above average salary, but my wife is self employed. No one at Standard Bank can comprehend that my wife earns rental income from the business for tax planning purposes. I have had 5 applications (4440887, 4468828, 4514087, 4548361) and all have been declined due to affordability, as they do not recognise (or understand) how my wife earns money from her business.
One application went for arbitration, who were happy with the app, but low and behold declined for the same reason.
And the stock response is: capture a new application or contact customer complaints dept. I have done both and once again realise that banks don't give a about customers. We have had our bond with them for 7 years with not one issue, but that counts for nothing. Having more than enough disposable income as well.
Not to mention the hours and hundreds of R's wasted on the phone.
The banks and poor government is what is killing this country. Why would you start your own business if banks penalise you for this.
All I want is to sit down with someone and explain the application.
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