First National Bank
7 months and nothing

Bond 3000013471958

After 7 months - no answer. We've applied for a 60% building loan back in May. FNB requested the same documents more than 5 times during the past 7 months. It was approved on condition that I complete the 40% first, using my capital - which I've done. The evaluator noted the progress on 12/11/2013 at 47% complete, but FNB's response:
I need to finance the rest - they will refund it as we progress. Why would I need a loan then?!!!? I'm 7% further than requested. I've gone past 3 milestone dates (milestones FNB set for payout), but no - I need to finance - they'll refund! Ridiculous.

Waiting 7 months is unacceptable!
Requesting same paperwork more than 5 times is unacceptable!
Not answering 011 632 2233 is unacceptable!
Requesting amendments to paperwork (which I had to pay for to get done) 7 months after the first sent-off is unacceptable!
Building costs has escalated with a further R200 000 due to the delays caused directly by FNB - and I have to cover that.

Please help. These people do not know how a bond works. A bond is no good if you have to provide the money for it!!!

Company: First National Bank
Country: South Africa
City: Johannesburg

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