Nedbank
Why can't my interest rate be reviewed as promised

I contacted Nedbank Home Loans and requested a review of my home loan interest rate. This was following the discussion I had when purchasing my second house through Nedbank. On my first home loan with them I had a much lower interest rate. When I sold my first house and applied for a new loan, I was given an interest rate that was higher than my previous mortgage. I was informed that I could contact them in a year and ask for a review on my interest rate, and that they would then review it. So I phone then and I was informed that the Home Loans division could not improve my interest rate and that was that. The consultant at the at same time was rude, and said I can take my loan to another bank but they would not give me a better rate.

I moved all my accounts over to Nedbank after the excellent service I received with my first home loan and I also have a outstanding credit rating.

Why was my interest rate not improved?

Company: Nedbank
Country: South Africa
City: Home loan Department

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