Late in 2008 I was granted a building loan of R800, 000.00 with an insurance of more than R3000.00 per annum effective from March of each year. From the said building loan, I took only R560, 000.00 which by the end of March 2013, I was left with R2000.00 to settle but still paying an insurance of more than R3000.00. Now that i want access to the balance of R240, 000.00, ABSA advise me that my account is not flexi and the house built as a result of the building loan must be insured for R5 million. This cannot be correct because ABSA granted me a bond which I still have access to R240, 000.00 before I can exhaust it. The issues related to a flexi account or insurance of R5 million cannot be a stumbling block for me to access the remainder of what was loaned to me. This is a breach of agreement. Please assist me to access the remainder of the R800, 000.00 which is R240, 000.00
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