GV
Gerhard V

1 reviews | Active since Dec 2010

05 Feb 2016, 15:37

ABSA: No due diligence before approving home loan

I recently signed an offer to purchase thinking that all of the banks would require plans for the house as well as a certificate of occupancy. That was the case, except for ABSA. They approved a loan for the place without requesting any documentation. Now it has come to light that the house was built without plans and I have my doubts about whether it complies with the building regulations. But I have to buy the place because ABSA (and only ABSA) approved the loan. I might be forced to demolish the place before I finish paying off the loan, but ABSA still approved the loan. I'm phoning the building inspector on Monday. Hopefully he goes to look at the place before I am forced into buying the property.

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Replies (1)
Absa
Absa's reply08 Feb 2016, 08:52
Official
Hello nuci887,

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

Kind regards
Claudette Lewis
Group Customer Care
Absa Bank Ltd