1 reviews | Active since Aug 2010
ABSA different standards to other banks
I have been a customer of ABSA for many years and always received value for money service. I was excited to apply for a home loan and received the good news that the home loan application has been conditionally granted, subject to a valuation done on the property. I decided to wait on an update from ABSA only to hear from them that the property I wish to finance does not have the required amount of value and therefore the application could not be approved. I was confident that the valuator would find value in the house as Nedbank and Standard Bank did. What is a bit mind-boggling is that both banks found value way above the asking price. They subsequently offered me a good interest rate with my 12% deposit. I would have loved to do business with ABSA, however, it seems their standards are different from that of Standard and Nedbank. Whichever bank I'm going with now, I will move my ABSA products to them.
