JM
Johannes M

1 reviews | Active since Feb 2010

18 May 2015, 17:39

absa decreased my home loan term

I entered into a home loan agreement with Absa in 2008 for 25 year repayment. In 2009 i have asked to be put in debt review. Despite being in debt review i have honoured home loan payments in full. After my finances were sorted i decided to exit the debt review process. I have made enquiries prior exiting to ensure that there was no arrears on my account. My instalment was +- R3880 and since last year it has increased to R5200. My account is upto date. Absa decided to decrease the payment term to 3.6 years...and that resulted in my instalment being doubled and thereby increasing my monthly payment to R10000. I have been to the cape town branch and made lots of phone calls and no one knows what happened. CAN ABSA be kind and reset my terms to the original without asking me to submit forms and bank statements. My account is up to date and have not missed any payments.

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Replies (1)
Absa
Absa's reply19 May 2015, 08:41
Official
Hello santacloss,

Dear Customer

Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback accordingly.

We sincerely apologize for any inconvenience caused.

Kind regards

Danzig Boyce
Group Customer Care
Absa Bank Ltd