Disappointment and dissatisfaction wrt interest rate received on Bond Application

<p>Dear Absa,</p> <p>Today I received the news that after I've asked for you to reduce the term on bond application to 20 years, you've gone up with the interest rate yet again on home loan application ********** 1991 with an interest rate of 10.55.<br />The 1st conditional grant I received was at 10.25, Absa only willing to give a 50% of purchase amount. (Bear in mind that both my wife and I bank with Absa, SBSA came back within 3 days granting us a 100% bond.<br />2nd conditional grant received was at 10.25, Absa only willing to give 72% of purchase amount.<br />Then Absa come back and says they have an affordability issue with us. Asks us to clear some debt and we able to clear up R4650 per month.<br />3rd conditional grant received was at 10.65%, Absa willing to give a 100% of purchase amount.<br />4th official quote after valuation Absa willing to give 100% at 11.10%.<br />5th conditional we indicate that we'll put down a deposit of R86485, Absa communicates with my bond originator they willing to give us the bond over 30 years at 10.45 with deposit and at 10.60 without deposit (full purchase price) .<br />6th official quotation we asked for bond term to be reduced to 20 years, they come back and give us 10.55 with 20 year term. I call in to the call center and is advised that they rejected a rate appeal from my bond originator and 10.55 is the best on a 20 year term.<br />I'm dissatisfied with the interest rates received thus far, I had the other banks approving us with at least 90% over 20 years. My originator did not even bother negotiating with the others and cancelled as the indication from Absa was positive in terms of offering us a solid sub prime interest rate.<br />I really had faith in Absa giving us at least a 10.25 interest rate, but thus far they could not maintain that of 10.25 as initially mentioned.<br />Last year I purchased a brand new car worth 300k and to my surprise Wesbank (Fnb) beat ABSA and gave me a better interest rate, surely your cars interest rate can't be better than a house's with no deposit on car.<br />I'm loyal to Absa since a kid, but they can't be. Our current bond is held with SBSA as ABSA could not beat their offer back in 2012. I'm desperately asking you to reconsider your interest rate of 10.55 over a 20 year term and give us a solid sub prime interest rate.<br />I trust that you'd receive my mail well and make us smile as this process has been stressful enough. I like having everything under one roof. Please note that I'm writing in my own capacity as my bond originator has been up and down between me and since 14 March 2017.</p> <p>Despite these issues Absa is still my provider of choice.</p> <p>Please contact me on my cell or work number provided along with application.</p>