FNB Home Loans Swindle
As a decades long client of FNB, I lodged an online application for my first home loan with my trusted bank - FNB. I was promised 50% discount in attorney registration costs and 40% back in eBucks on my first home loan installment. Mr. Tshepo Motang was the banker who assisted me. After about a week, I was informed that the "bond originator" from the estate agency gets preference (before me, the client) and they will therefore cancel my application in order to process his application. I lost the 50% discount and 40% back in eBucks and the "bond originator" got a lovely commission out of the deal. I am still upset about this even if it happened in 2017.
The reason is that Mr. Motang promised me that I could do a rate revision in 8 months' time - this in order to make me feel better about how him (and his superiors) and the "bond originator" colluded in order to cheat me out of the benefits promised. After 8 months, I was told that Mr. Motang **** to me and that I can only do a rate revision in 2 years' time. 2 Years came and went - I lodged the revision. Home Loans never got back to me.
I asked a private banker, Sibongile Mbiza, to look into the matter for me. She has escalated it and sent various emails to Home Loans. All of them go unanswered. It has been 3 weeks - Home Loans simply do not care to answer.
Because a home loan isn't that easy to switch to a different bank, the least I can do is to warn everybody and anybody not to apply with FNB Home Loans. Buying a home isn't easy or relaxing - it's a stressful thing to do. It implies huge responsibility. One does not want to take on something as serious as a home loan with partners you can not trust and can not rely on.
For everyone who's reading this: Don't trust FNB with this big step in your lives. There is a chance they will not be honest. They will work with "bond originators" rather than their own clients. They will pay that bond originator a commission - you, as the client, will get nothing back. Your applications for rate revisions will not be answered. In fact, FNB Home Loans will only show you contempt.
Any future bond applicants with FNB should approach the situation with caution. And for goodness sake, stay away from "bond originators". They somehow have influence in the banks and will purposefully get you higher interest rates so that the bank can pay them their commissions too. They will ensure that the banks undercut all applications you lodge and turn them in the favour of them - the bond originators. They are horrible people. And the banks are even more horrible to prefer them in spite of their own clients.