My husband and I have been granted 75% homeloan credit despite our affordability and years of being clients. What is disappointing is that we have been loyal customers of standard bank for almost 20 years and during that time we have both purchased properties in the past (100% granted and without any past credit defaults), I fail to understand why the bank cannot take such facts into considerations? especially with the fact that both our grossly income is about R90 000 per month, we were preapproved for about 3million but decided to purchase a 1, 6million house, both of us have secure permanent jobs to afford this. Another one of my many disappointments is that my husband is a private banking client, we were advised on a credit facility to compensate the remaining homeloan credit not granted, I cannot understand how one gives one credit to compensate for another? In other words how can you pay debt with another debt? And this is being granted on me and not him because I have an ID.
I am wondering if there is a possibility of appealing this decision, if not then we are left with no choice than to cease all our services with Standard bank for good.
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