1 reviews | Active since Aug 2018
Poor service from ABSA Home Loans
My wife and I app**** for a Further Advance on our current ABSA Home Loan for the amount of R170 000-00 which was approved on Thursday 2 June 2022. The reason for the loan is for home improvements as we want to install a solar system. The Debit Order Mandate, Loans Debit Authority and the Mortgage Loan Quotation and Agreement was emailed to me on 2 June 2022. My wife and I signed the documents where after I emailed it back on Friday 3 June 2022.
While going through the documents we discovered that ABSA is still under the impression that we are insured with Discovery Insurance. When we bought our house in 2010 we had Discovery Insurance but not long after that we moved over to Dial Direct Insurance.
Early on Friday 3 June 2022 I contacted Dial Direct Insurance to increase the value of our Buildings Insurance from R1 817 000 to R2 431 000 as indicated by ABSA. Before 09:00 on Friday 3 Jun 22 I emailed my updated Dial Direct Policy Schedule to ABSA and I was informed it will be send to HOC for a vetting process.
It is now almost a week later and when ever I email ABSA Home Loans to get an update or an estimated time on when the money will be paid into my account I do not get an adequate answer.
I informed ABSA and with an email to HOC this morning (9 Jun 22) that I want an indication of when we can expect the money in order for me to arrange with the contractor that is going to install the solar system. ABSA Home Loans once again sent me Dial Direct Insurance Policy to HOC for the second time in 4 days.
Can someone please assist me.
