1 reviews | Active since Dec 2011
Absa Homeloans still tries to penalise you for early cancellation even after serving the 90 day notice period.
I am in the process of selling a property where I took my home loan through Absa Homeloans. I am well aware of the early termination penalty, so in accordance with Absa rules, I placed notice of my intention to sell last year.
By 6 November 2019, I had already searved the 90 notice at which point I informed them that the property was still on sale and I would like to extend my notice. This was acknowledged by the Home Loans cancellation team and was due to expire on 03 February 2020.
I had again contacted them on 26 January 2020, when I had received an offer on the property to inform them that my notice would expire on 03 February 2020 and I would therefore like to extend it again.
This too was acknowledged as received and due to expire on 24 April 2020, but when the transfer attorneys obtained the cancellation figures from Absa on 20 February 2020, there is still a full 90 day interest penalty added.
I'm really disappointed as I followed the rules and Absa still tries to charge me for something they have no right to. What more do you want Absa?
