FNB Homeloans - Avoid them if you can.

SELLERS BEWARE. I am selling a property in Cape Town, the bond is paid up and there are no outstanding debts. I signed an offer to purchase in January 2026. The buyers bank with FNB and the bond approval finally came through on the 26th March 2026. It is now 15th May 2026 and FNB have not released the guarantee leaving me in an extremely difficult position as the property has been vacant for 4 months which equates to me having no income from January 2026.

FNB is also my bank (maybe not for much longer), and I requested assistance until the sale goes through. I was told that there was nothing that they could do as I didn’t have proof of income for 4 months and couldn’t show that I could repay the loan!! They have granted the buyer a bond, said bond will be paid to me, how is that not good enough to secure an amount which is probably 4% of the purchase price?

If you are buying property please don’t let FNB be your first choice, they are great in many areas, property finance is not one of them.

If you are selling, first prize is a cash buyer or a pre-approved bond. If they are with FNB I suggest you decline, unless of course you have time and money to wait at least five months before transfer goes through.