We registered a mortgage bond with Bondpro in Feb 2008. Our main reason was to consolidate our debt. From the beginning we had problems with Bondpro. One of them was that the payments to our creditors were delayed for almost 6 months.
We have now closed our mortgage account with Bondpro.
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At present Bondpro in being investigated by the SAPS for alleged and on our mortgage account. The case number is MAS 53/04/2013.
We also submitted a complaint to the FSB as Bondpro acted as an intermediator for short terms insurance, while not registered as a service provider at the FSB .The reference number is 444028
We referred our complaints to the NCR as the agreement determined a prime linked interest rate. Bondpro failed to adjust the interest rate charged on our account in line with the decreasing of the bank's prime rate. This is a contravention of Section 103 (4) of the National Credit Act. The amount overcharged on our mortgage by Bondpro is
R 79k
When we confronted Bondpro, they offered us an amount of R 51k in full and final settlement. One of the conditions of the settlement was that we withdrew all complaints to the Police and regulatory bodies. In public interest
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