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Chane O

1 reviews | Active since Apr 2011

26 Apr 2025, 14:03

FNB account holder - Need a homeloan - FORGET IT! You have no chance!!

If you bank with FNB and need a homeloan, look somewhere else. Unless you earn R80k to R100k monthly salary that reflects on your payslip and in your account, you are over 40, work at the same employer for over 15 years, and have 100% credit score you will not qualify! I app**** for a R2.2 million bond, 35 single female, with a LLB degree. Been employed by the same employer for 11 years, earn R60k a month, debt is less than half my salary with very high credit score and i was declined. On what bases, affordability and risk. Or should i say they actually offered me R1.4mil, a slap in the face! I have proven i am more than able to afford it, and if i have high credit score how on earth do i have high risk factors?? All the above, salaty, age, employment, repayment on debt etc are the factors taken into account holistically (their words) but somewhere i am missing something because accounting to my factor's i can damn well afford it!! And STB agreed and gave me 100% approval, a bank that doesn't know me from a bar of soap, but the bank i have been banking with for years and who on a daily basis wants to offer me credit wont give me a homeloan.. Disgusting!! And not to mention that i have been going back and forth for 6 weeks now because getting feedback on one query takes a week! A property that is valued 30-40% more than my asking amount FNB is declining!! If they were to sell it they would make a profit, another factor they say they take into consideration, but obviously all these factors are not applicable to me!! Well done FNB you have lost another client! Seeing that STB believes in me i will believe and trust in them with all my money ( not just my salary that you only take into) but the other payments or funds i receive (which FNB just ignores) !!

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Chane O's update02 May 2025, 15:24
Reviewer Update
Only after having posted this complaint did FNB reconsider my offer and is now offering me the same as what STB is offering me (Only after i showed them what was being offered and FNB is now wanting to match my offer)!! I have to prove myself to a bank that i have been banking with for years, who i have built a credit record with and still they are not willing to offer me R350 000 more.

FNB is constantly trying to find ways to say I cant afford it or I have risk factors, rejections constantly changing and contradicting.
I am one of the most reliable person and have always ensured that all my debt etc have been paid and is paid on time. i have not defaulted on any of my accounts. The new Factors that contributed to the risk were me spending money on games in the past few weeks, (of which I had put in additional money to cover this) and does not affect my main source of income, nor does it affect my ability to make payments on my debt and rent or home loan. My current rental is more than what the repayment on this home loan would be and i have been paying it comfortably for more than 5 years on less income. I have given FNB no reason to have any concern on me making the repayments on a bond application of R2.2 million - approx R22 000 repayment.

Had a known 6 months ago that I would be buying a house now, i would have saved some of the additional funds I had, however there was no need to. I dont spend money I dont have. I have a very good budget and know when i can spend and when i cant.

With the R1850 000 bond approval, I would now have to make a loan to cover the other fees, which I would then have an installment of R5000 - R8000 over and above my bond payment, making my monthly installment on the bond and loan almost R25 000 a month, MORE than what the bond repayment would have been had I been approved for R2.2 million, this makes absolutely no sense to me. This would then put me at a higher risk, because I am going to have to make the loan to pay the fees, pay the loan and bond each month.