Standard Bank
Standard Bank Moving Backwards

I applied for a home loan, sent through the offer to purchase etc.

I currently have a house that I am selling (Financed with them, seeing as I have been an SB Client for ages), I sent the offer to purchase that clearly stated that it will only happen when my current house is sold.

I also mentioned this several times to the consultant when I did the application for the new home loan.

After having to phone them myself to find out the status of the home loan, I find out that it has been declined due to affordability, after further investigation, it became clear that they cannot follow simple instructions, and added my existing home loan, levy, rates and taxes when they did the affordability calculation (even though I clearly stated on the purchase contract that it is dependent on the sale of my current property, and the fact that I mentioned it several times to the consultant), I sent an arbitration letter to them, without response, only to have to phone them again, to find out that I need to re-apply!!! so now I have to re-apply because they could not follow simple instructions.

Looks like I will be going green soon...

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

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