In January 2013 we applied for a Re-Advance on our Access Bond. The excess money that was available prior to the Re-Advance had been taken away after the advance was approved and completed. Upon requesting information I was informed that this was due to the Home Loan monthly inefficiencies in calculating available funds and an amortisation which was done being the reason for this having happened. Upon requesting how this calculation was arrived to, I received no information.
In April it was noticed that my debit order had gone higher than what we were informed it was going to be. Doing some calculations it appeared that our Bond Term had been changed by 3 years, and this information was forwarded to the consultant for investigation and to explain why this was the case. The outcome there after on the 2013-04-05 was an sms, stating the bond term was changed and was the reason for the increase and that now my bond term is changed back to 20 years with the debit being what we were told, the problem is that this was done without informing me yet again, without answering my question.
At the end of all of this I find Standard Bank very shortcoming with information requested.
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