Absa
Unfair Home Loan Approval Condition

After settling most of our short-term debt and all of my credit card debt, we applied for a further loan on our existing home loan with Absa. Absa approved the loan but with a condition that I also close all my credit cards. I feel that this condition is totally unfair and has no credit relevance to the application. The reason we put in the extra effort to settling/reducing our other short-term debt is because we are responsible for our own finances and did not want to apply for a loan we could not afford - however this condition put by Absa Home Loans is saying to us that we don't know how to manage our finances and that they will do it for us.

I am shocked by this condition and would like Absa to reconsider and to remove this condition from the approval. If not done I will seriously consider moving this bond as well as my personal accounts to another bank.

Company: Absa
Country: South Africa
City: Home Loans

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