Fnb Home Loans - A JOKE

I am a young professional banking with FNB since I was eligible to have bank account, at present I am a private client.

The service I have received from FNB Home Loans is very disappointing - I don't know what to say about the service I have received and I feel very discouraged to remain with FNB.

I have app**** for a joint home loan with my wife, which we was pre-approved by FNB, we found a Quick-sell home which we made an offer for - which was approved. We were told by the Quick-sell team that we would need not more than a week to get the pre-approval converted into a final approval and that the valuations are already done.

From there we were approved in principle and received an offer - I was then contacted by FNB Home Loans and said an evaluation needs to be done before she can motivate a better rate - why do two valuations need to be done?

Since then, I have not heard a word from FNB Home Loans. After numerous failed attempts I manage to get hold of the broker and she mentioned that FNB Home Loans want quotations to complete the home and an amount of available funds we have to complete the home - before they can continue to motivate the bond application.

Firstly, the bond I app**** for is 20-40% less of the amount my spouse and I qualify for - and the amount accepted by FNB Quick-sell is 10-15% less than their evaluation amount of the home (as it stands). Surely, that means there is equity in the home I want to purchase and we can afford to complete it (provided proof of funds).

Secondly, why would we need to prove the funds we have available if we bank with FNB? Also take note that we have the funds available to complete the home.

Lastly, my banker has mentioned that affordability is not the issue, so what exactly is the issue? Surely the home loan department could’ve offered me additional funds or a building bond to complete the home?

These are the declined application reasons:

The house is not habitable.

In the past I have advocated that FNB is the best bank to be at, but I beg to differ now. Furthermore, I feel saddened by the fact that this is not the first time FNB Home Loans has done the above mentioned - I have app**** for a bond for vacant land which was rejected by FNB but accepted by Standard Bank.

I have submitted the above mentioned OTP to Standard Bank which was pre-approved; It’s quite interesting to see a bank that we don’t bank with offers better service - I think It's time I make the switch.