BOND problems - ABSA staff cannot read and don't listen.

I app**** for a bond with ABSA home loans for a Manufactured Modular Home, land not included.

It was stipulated in the Offer to purchase that the land was not being bought, just the home. This was also communicated verbally on several occasions (all their calls are recorded) including when they contacted me for the ERF number. I asked why they needed it as the land is not being bought, I was told they had to have it anyway.

I received an e-mail and phone call advising that my home loan had been finalised and approved and I would just need to sign papers with the attorneys. There were a lot of Congratulations and well done's as well.

Then everything went south. The attorneys started asking for information and documents with regards to the ERF for title deeds. When I advised that I was not purchasing the land they put everything on hold.

ABSA then phoned me to tell me that they won’t give me the bond anymore because I am not buying the land and I will need to take a personal loan over 5 years instead. The bond would have been 15 years and would have included home owners insurance. The repayment costs on a personal loan will be double and will not include the insurance.

I have been put into a difficult financial position, lost time at work and have been put though a lot of stress because of their incompetence. I have even given notice where I have been staying and had to run around trying to find a place to live. Disgusted and now considering changing banks altogether.