We applied telephonically for a re-advance on our home loan on 13 Sept at 16h30. After going through the whole process (which took a hour), the agent gave me details of where to send required documentation and informed me that we should receive a response within 5 to 7 working days. We got everything together and I sent documents through on 23 Sep. I called later in the day for an update and the agent told me that our app was declined on Mon 16 Sept already. WHAT?!? No feedback, no explanation, I haven't even sent my documents at that stage yet! Reason we were given is also not acceptable and incorrect. This is definitely a system error or someone was too lazy to do the application properly. We are strongly thinking of moving our home loan to FNB. Standard bank is always quick to phone to offer you loans and to tell you that you are a good and valued customer, but when push comes to shove you get outcomes as above due to incompetence and sloppy work.
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