Home Loan Application Complications

To Whom It May Concern,

I am compelled to emphasize the severe mental and emotional turmoil I have endured over the past few days due to the perplexing situation surrounding my home loan application. This ordeal has left me and my family traumatized, with significant financial losses hanging in the balance.

On August 25, 2023, I embarked on the journey of securing a home loan, with FNB emerging as the preferred financial institution. The negotiations commenced, and things appeared to be progressing positively.

Fast forward to September 18, 2023, FNB granted a 100% bond, instructing the lawyers to initiate the process. With enthusiasm, I settled the initial account statements promptly. At the recommendation of Bond Gallery, I added solar to the application, and this was granted on October 3, 2023.

Then, on October 6, 2023, the registering attorney requested an amendment to the final grant for the solar addition, leading to an abrupt reversal of the entire deal into a credit limbo.

These last five days have felt like an excruciating eternity, marked by incessant phone calls with consultants ranging from competent to less-than-competent. Regrettably, I received two entirely contradictory responses from FNB, further exacerbating my mounting stress.

Desperately seeking clarity, I reached out to Jacqueline Kgomo, as she was asked to stand in for Elephant Kevin while he was away. Despite my request for call recordings, she has not responded or contacted me, exemplifying the frustrating service I have encountered with FNB/RMB.

On October 11, 2023, a consultant attributed the chaos to a "glitch," promising resolution, but it was only on October 12, 2023, that I was informed of a credit cash flow problem affecting my business.

Regardless of the true cause, the fact remains that these circumstances are not of my making. Both attorneys were instructed to proceed with the application process, and neither my personal nor business situation submitted to FNB has undergone any changes. Yet, inexplicably, FNB has altered the status of my application.

To compound matters, my designated private banker is on leave, and there seems to be a dearth of knowledgeable personnel at FNB, leaving me to face this chaos alone.

Upon receiving the initial grant, my family and I made substantial arrangements, including notifying our current residence, my son's school, and initiating the process of moving. Consequently, the financial costs and losses are accumulating, and I am prepared to take every conceivable step to hold accountable anyone responsible for this predicament, with all such losses to be attributed to FNB.

We have sacrificed a substantial sum of money that may now be in jeopardy. I asked a consultant about the fate of the funds if the bond were to be denied, but they could not provide a clear answer, signalling a potential loss of these hard-earned savings.

For the past five days, I have endured a relentless cycle of phone calls and endured over eight hours on hold. The promised "escalation" has proven futile, offering no substantial assistance or resolution.

In response to inquiries about short and medium-term loans associated with my name, I run a business that occasionally necessitates such loans to maintain competitiveness and growth. Despite fluctuations in cash flow, I have consistently met all financial obligations, including rent, car payments, medical aids, cell phones and loan repayments.

My motivation for applying for a home loan stems from over a decade of paying rent, amounting to millions of my earnings given to someone else. My business sustains 15 employees and experiences steady growth, making this sudden upheaval all the more frustrating, considering our anticipation of owning a home. We have spent the last 2 years dealing with debt and paying everything up to date to ensure that if we get to the stage at the end of 2023 we can apply to know we have done what the bank sees is being a responsible client.

Today, I was informed once again that the matter has been escalated, yet, seven days have passed without any discernible progress or resolution. To my bewilderment, when I reached out to Elephant Kevin on Tuesday, he appeared oblivious to the entire situation, unfortunately, he has been on leave and left the situation to @Kgomo, Jacqueline who was promptly asked to communicate with me but a two-liner email to me marked the priority and urgency two days later yet again a service 'glitch' by RMB throughout this process.

This situation has taken an immense toll on my mental well-being, causing undue hardship for me, my family, and my business. I implore you to address these issues with the utmost urgency and provide clear and definitive answers, as well as a resolution to this distressing situation.