I have expunged my home loan in less time than the mortgage bond required by overpaying each month for the past thirteen years. The balance in relation to the bond represents therefore represents almost no risk to the bank. The product was linked to a Flexi facility (small in relation to the property value).
I got a rather rude call from Tshepiso of FNB informing me that MY FACILITY HAS BEEN CANCELLED WITH IMMEDIATE EFFECT, this being due to the remaining period being less than seven years and therefore as a reward for thirteen years of faithful payment FNB no longer wishes to advance me anymore money as it would be considered in terms of NCA as reckless lending!!! There is no discussion regarding alternate options in fact it appears that the reward for being a responsible client (for the past thirteen year or more years), is that we don't want you as a client.
Please will someone at FNB advise me as to whether this is the official policy so that I may start informing all of my clients and friend of the bad faith practice!!!!!