Appalling Service in Handling my application for a Bond Re-advance

<p>(A) RE: APPROVAL & SUBSEQUENT DISAPPROVAL OF THE READVANCE (FURTHER LOAN)</p> <p> </p> <p>1. It is with a sense of dismay that I have to send this e-mail. On the 4th and 5th October 2016 We received an SMS from fnb housing notifying us that our application for a further loan has been approved in principle & that to finalise the loan, a valuation has to be conducted on the property.</p> <p> </p> <p>2. Subsequently, I notified fnb Housing that a valuation was conducted in August & asked whether or not it'll be possible for fnb to use that valuation report to finalise the loan application, instead of sending another valuator. Surprisingly, fnb told me that they do not have the valuation report as according to the valuator the house was not complete.</p> <p> </p> <p>3. I was alarmed when I heard this because when the valuator came to the house he said that he was pleased with the house and that to finalise the valuation, we only have to obtain & send him quotations for the Interior Floor Tiling & Bathroom Ware for two of the three Bathrooms in the house. The said quotations were sent on the August 23, 2016 and I received confirmation that N Mabena (fnb official) will be handling the finalization of valuation.</p> <p> </p> <p>4. Instead of dealing with the above enquiry, I was told that I now need to submit quotations of all the completed work on the property, which was a surprise to me because I am not applying for a building loan as the house is standing and fit for human habitation and built according to the plan approved by the municipality, a plan which the valuator has!</p> <p> </p> <p>5. Following fnb's request for the quotations referred to in paragraph 4, I called fnb to let them know I am not in a position to provide all the quotations and receipts for all the work completed on house.</p> <p> </p> <p>6. The reason serving to account for my inability to provide the quotations is mainly that we started purchasing building material as far back as February 2011. The last bit of material we bought was roof planks (trusses) when we were moving closer to finalization of the project in 2015. This essentially mean that we bought building material for our house over a period of 5 years and all the receipts have faded because we were buying cash and we never had to request quotations.</p> <p> </p> <p>7. Now, does fnb really want to tell us that despite the fact that we have increased the value of our house by over 100%, my re-advance application (further loan) is now rejected merely because I could not provide quotations for the house that is complete.</p> <p> </p> <p>8. Regrettably, instead of responding to me whether or not the said valuation will suffice, I was notified by an FNB call centre agent that</p> <p> </p> <p>(B) VALUATION REPORT</p> <p> </p> <p>1. On August 2, 2016 I sent an e-mail to ********** wherein I was requesting FNB to come & conduct a valuation on my house following extensions &renovations that we recently completed on the property. To this end, a valuator came to conduct the valuation & He later told us that in order for him to finalise the valuation report, we only have to obtain & send him quotations for the Interior Floor Tiling & Bathroom Ware for two of the three Bathrooms in the house as I house.</p> <p> </p> <p>2. NB: As at October 20, 2016, the said outstanding work has not been concluded. However, we have begun buying some items, for which we have not been retaining the receipts, also because we are buying cash.</p> <p> </p> <p>Their disposition in handling the whole application was apathetic to say the least. I have since appealed the second outcome (declining the application after they had approved it, simply because i could not provide quotations)</p> <p> </p> <p>I can barely wait to hear their **** feedback. I am really considering changing banks!!!</p>