First National Bank
FNB made Error and now won't honour quotation

This is related to a previous issue. Basically i applied for additional funds to finish off renovations i was funding out of my own pocket. I was put through a re-evaluation to confirm i've added value to property, which was confirmed. I was then advised i only qualify for a lower amount, due to recency of bond etc. I accepted the lower quotation amount, and then ask in writing whether this is a formality and if i can contract the builders to start. I was advised that payment is imminent, and with payouts department and it was merely a verification required before payout. based on this I contracted builders. I then discovered a partial payment was made, and only when i enquired as to why, I was informed that FNB miscalculated my bond registration amount, and thus can't do the payout of R5000 owing on my signed & accepted quotation. I am now facing defaulting on my payment to builders and what ever repercussions that brings with it, due to FNB's error. FNB not understanding my dilemma. I've dropped over R100k of my own money in, and raised the value by more than R250k already, yet they refuse to give me my last R5000 to pay my builders. I need FNB to honour this quotation!

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

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