First National Bank
Incorrect Valuation of Property

I applied for a future use amount on my home loan to carry out some renovations.

The valuation of my property came back at R1.8million which is ridiculous. The property alone is 3400sqm and in a great suburb.

Some of the points the valuation raised were:

The pool is half empty and green - We don't swim and the pump is left off. It takes a weekend to clean the pool and get in blue again.
The garden is neglected - I have just trimmed the trees in the back and in the process of removing the remaining branches. The rest of my garden is perfectly fine!
The house is not completely painted outside - There are a few areas which i am busy painting hence the loan for further renovation

The above does not warrant a -R1.2million difference in valuation.

Municipal valuation R2.6mil
Lightstone valuation R3.2mil - I am aware these are desktop evaluations.

It should be around R2.6

Below is a compliant from another customer about Brian the evaluator:
https:///first-national-bank/complaints/continuos-poor-service-1042287

Now they say I must get two valuations at my own cost due to Brian

If this is how poorly FNB does business I am going to move my accounts to another bank

Company: First National Bank
Country: South Africa
City: Home Loans

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