Standard Bank
Misleading Turn Around Time and Requirements

I applied for a mortgage a month back and told i needed certain documentation which I gave to the consultant. After a week i inquired on the status of the app &was told Home Loans requires more documentation. Could home loans not have contacted me earlier? Why do they ask for documents that the branch is not aware of? Seems to be that Standard Bank is saving money by completely decentralizing home loan applications to the extent that branches don't even know whats required. I called home loans 10/10/2013 & was told there's more requirements which i got to them the same day. Surely they could have contacted me earlier instead of waiting for 7 days... what if i hadn't called them, would i still be waiting? In the interim I've been getting sms's that a consultant would call me... that was 2weeks ago, same sms with same message every time. When i called today 14/10/2013 i was given another long story and also to my surprise the home loan consultant said the realistic turn around time for approval/decline is 4 weeks from when they receive all necessary/required documentation. It would seem that Standard Bank politely declines applications by obfuscating this process resulting in loss of sales!

Company: Standard Bank
Country: South Africa
City: Home Loans

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