ABSA Homeloans - Losing the plot..!

After a year of having our homeloan approved with ABSA, we, just in the nick of time, fixed our interest rate which they were more than happy to help us with.

Fast forward to 3 months ago - we app**** for an extension to our homeloan to make some small alternations to the property, we jumped through all the hoops to get the additional amount approved, payments were made to register the new amount. All this time there was clear and open communication between ourselves and ABSA.

At the end of November, we received our statement from ABSA which reflected a dramatically different repayment from what was originally agreed and communicated. Of course, this was immediately queried as we had confirmation, in writing, from our ABSA consultant stating that the repayment was X and would remain as X. This was immediately refuted by said consultant, who informed us that the original rate was now "moot", and we'd have to re-apply for a new rate, this was the first communication of this process.

I feel that it is important at this point to mention that the additional amount was less than 8% of the original loan amount.

After much to and froing the consultant said that the rate would be reinstated, and then the next day we'd have to re-apply, and then it would be reinstated, and then we'd have to re-apply...get the picture?

Now, as a business professional, and an ABSA Private Banking Client, I have neither the time, nor the inclination to chase after a bank who clearly have no idea what they are doing!

I would like the agreed interest rate reinstated immediately, at the very least before the end of the month (covering the additional 8% that was added to the capital amount), a refund for the inflated payment that was made this month and a written apology from ABSA for their slovenly and appalling customer service.

Failing this, I'll have no other option but to take my banking elsewhere - after all I have "convenience at my fingertips".