I am really not happy with the service received from the home loan division of FNB. Firstly, a year ago, I wanted to purchase a home. I applied to FNB for a home loan, received a terrible interest rate, and they were only prepared to finance 80% of the loan value. I received a 100% loan offer from Ithala, at prime .5% interest rate, at the time, 1 % lower than FNB's offer. I bank with FNB so I expected the best offer from them, I was proved wrong, I guess a banking history means absolutley nothing.
I now want to renovate my home, so I approach FNB, hoping they could take my existing loan over from Ithala, and give me an extension for the renovations. I was hopeful that after a year, the interest rate would improve, I am no a longer a first time home owner.
After completing the application forms, I received a call that they can not finance me for the renovations as it would be above the market value of the house, will the renovations not increase the market value of the house? They offered me a rate of 10.4%, 1.5% higher than my Ithala rate.
I am so upset with FNB, being a client of there's means nothing, I am going to close all my accounts with them.
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