ABSA CPT DISCRIMINATES AGAINST RACES

On 04 February 2020, I came into a gentleman's agreement and signed a deed of sale with a property owner that has a tuckshop operating on his premises and he has all the necessary paperwork that is required of the shop to operate on the premises, and everything ito rates and taxes of the property are all in order.

I then subsequently enlisted the services of a property agent ***Betterbond*** to source the 100% loan amount required for the deal to go through as the loan amount required by the seller was R 1800 000.00 and this was after he discounted the amount from R 2000 000.00.

In addition to that I added two of properties that I own in the Cape as collateral. The bank initially pre-approved my request with an amount of R 1382 000.00 with a deposit of R 418 000.00 in principle pending property valuation.

All the necessary documentation were submitted as requested by the bank. Level 4 came into effect and the property agent called me to inform me that the bank declined my request sighting a judgement that has almost 7 years in existence from a furniture shop, of which I did submit numerous documentation, letters, Saps affidavits, bank statement from the furniture shop showing clearly that there is a zero balance on my profile with them.

The bank still refused to grant me the mortgage now this time sighting the valuation of the property and in addition bringing in all technicalities that just don't make sense.

Till to date one can truthfully state that no valuation took place at the said property ***ERF 4046 Bluedowns***, as neither me or especially the seller and his lawyer were contacted with regards to the property nor has anyone from the bank physically went to the property to see and know exactly what is happening at the establishment.

In all honestly this is pure ************** to me the individual as I am a law abiding citizen without any debts except for the properties that I was putting up as collateral and I pay my rates and taxes timeously. In addition to this, I have two other friends ***white and coloured*** whom also were seeking mortgages and we all app**** at the same time as we had intentions of growing in our different capacities post the lockdown and I know for a fact that thier finances are worse off, but they were approved by Absa Cape Town, but I ***Black***, was declined sighting all the nice reasons and excuses under the beautiful South African sun.

It is clear that my application was a clear paper selection decline and not a decline based on the merits of my own individual case.