Standard Bank
Withdrawal of Approved Homeloan without Reason

On 19 Jul 2013 we (me and my fiance) applied for a home loan. We received an approval from Standard bank for the amount of R720 000 (90% of the price). We took out a personal of R80 000 and paid to transferring attorneys as a 10% deposit for the property (price: R800 000). On 16 Aug we were contacted by Nortonrose Full Bright Conveyencing attorneys to confirm that STD bank has instructed them to register our mortgage bond. We signed all documents required, secured a place for our daughter at a school close to our new house for her grade R next year, paid the tranfer costs and were waiting for the bond registration to be finalised. On 19 Sept Nortonrose Full Bright forwarded us an email which they received from the bank with just half a line sentence telling them to withdraw the application (from Agnes, [Email Removed] We engaged a legal representative to assist us in resolving the matter. The legal rep tried numerous times to engage the bank but to no avail. We accrued lot of debts and legal fees in preparation of registering the bond and to engage the bank. We still do not know the reason for the bank's action and/or lack of and very disappointed at their desservice.

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

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