FNB Home Loans Might Waste Your Time

It is with disappointment that I write another negative review; my third one in less than a year. It seems that FNB does not live up to their motto, “How can we help you?” I app**** for a home loan at all the major banks in South Africa including my own bank (FNB). I had seriously though that out of all the banks, the one I have banked with for more than a decade would be eager to assist. It turns out I was completely wrong. I lodged an application on the mobile app with FNB and included all the requisite information and documentation. Included in the documentation was the OTP for the house I wish to buy. It is clearly stated in the OTP that I required the bond amount plus 5% for costs. It has now been 10 days since that application, and I am yet to be satisfied. First, I had to ask for a better interest rate as the one they quoted was higher than the rate I was quoted by a competing bank. Can you believe that a competing bank, with whom I have no products, was/is prepared to offer me a better interest rate than the bank I have concluded vehicle finance with on one vehicle, have an active account on another vehicle, have a sizeable credit card, paid up loan facilities and actively banked with for more than a decade! To make matters worse they granted an application for the home loan but excluded costs, even though it was stated in the OTP which they requested. They did not even inform me as to why they did not include the costs in the “granted application”. Why do they request documentation if they do not use them? I have been told that my request for costs was rejected, as the purchase price of the house is higher than the banks limit for consideration of cost addition to the loan. So, all of my time has been wasted. It seems as though I will be forced to take up the loan with the competitor, and move all my accounts to them as well, as show of good faith on my part.