FNB HOMELOANS- what a terrible experience

Good day,

I buy property on auction, renovate and sell. About a year FNB held a presentation whereby they said we should no longer submit our deals to bond originators, obviously because they want to cut out the cost of commission they pay to bond originators. They promised us to have a very quick answer, within two days.

We decided to give this ago. On Tuesday 14 August 2018 we submitted an application to Taryn-Ann Pauls at your home loan department. First of all, I love my bond originator because she constantly gives us feedback as to the progress of the application. On Friday, after my agent struggled to get any feedback on this deal we submitted on Tuesday, I asked Taryn about the progress of this application- she said to me this is a housing finance application and she does not have access to their system. Fair enough- but still no feedback was provided. I asked for a direct number to a team leader so that this matter can be expedited-which she also did not provide me with.

My agent, Edwin also on 17 August (Friday) , decided to give housing finance a call- and they confirmed to him that the application was still with credit and they also confirmed the back log they have to us. Take notice that since Tuesday this is the first time we were notified that there was a back log at FNB housing finance. I called Saturday, 18 August, to follow-up again and some team leader picked up the phone at housing finance and He told me that the application is still with capturing and that this is out of his hand. This is where I lost it. So was Taryn aware about the back log at all? Maybe she did not follow-up because this is a housing finance application with no benefit to her commission?

First of all how can we be told on Friday the application is with credit, when in fact I was told on Saturday that the application is still with capturing. THIS IS UNACCEPTABLE.

On Wednesday, 15 August I submitted an application via my bond originator for another deal, which was AIPd on Friday 17 August by FNB. So how does using your consultants benefit me i any way??

The level of service I provide to my buyers is dependent on the speed of me reverting back with an answer- and this is directly being influenced by your lack of service and feedback.

I will never in my life deal directly with FNB consultants/home loans again. And for that reason another deal of R980 000 will be submitted directly to my bond originator tomorrow. FNB is no longer the bank of preference for my client's bond applications.

I am completely disappointed by this whole ordeal.