penalty on home loan account

This is just to inform every person considering to cancel a home loan with ABSA. Beware of how the 3 months notice period works if you sell property. I decided to sell a property, of which the home loan was with ABSA. I enquired about the loan being cancelled, and was told that I have to give 3 months notice if I intend to cancel the bond. I waited until I received a possible offer, and then phoned ABSA to give them notice. I was told that the notice period is applicable for 3 months, and if the loan was settled before the 3 months expired, I would have to pay a pro rata penalty. The 3 months have not expired yet, and, as I was worried that I will exceed the notice period, I called ABSA again. To my disgust I was told that I was already been penalized, as the 3 months notice period is not 3 months before the bond is paid off, but 3 months before I sell the property, and I was therefore penalized from the moment the formal documents were signed. I objected, as no one told me this, and the I got a lame apology. ABSA, I signed an offer on Monday to buy a new property, guess where I will NOT apply for a new loan?