Standard Bank
Progress payment

After a successful signing of a home loan agreement between myself and Standard bank I thought everything was going to be smooth sailing, releasing of funds etc... but the problem came when their assessor visited my property where construction is underway to check progress, he made his assessments and concluded that the bricks that I have purchased were not of the right standard (but they are approved by the SABS- proof submitted). Standard Bank is a financial institution, not a brick manufacturing company and for them to hold on to the funds for me to continue my construction is wrong, the bricks used are of right standards and used on all right areas (Since contractor is register with NHBRC). Getting help from their home loans division is a nightmare, their consultants don't have the right attitude and I keep on repeating the same things over and over again. Its been more that 15 days without clarity and way forward. Dealing with a home loan that won't release funds as they promised is not like getting a wrong order at a takeout store. Being a loyal member of this bank, this is what I get.

Company: Standard Bank
Country: South Africa
City: Head Office

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