Homeloan with interest rate 2 points above nominal

My husband and I found our dream home so here we go asking banks about our home loan (30% of total purchasing price). <br> To set the scene, my husband has perfect credit score, we have no debts outstanding, a gross income above the minimum required and a significant deposit. <br> <br> My husband banks with Standard bank but I have a platinium cheque account with FNB. <br> <br> FNB comes back to us after credit check and property valuation with an offer @ 11.75% interest rate.... Not sure where they went to find this rate but even their website shows a rate of 9.5%. <br> <br> Anyway I was not happy about that and the sales guy kept on telling me that they can't review the rate unless they receive the offer from other banks. RIDICULOUS! <br> <br> We managed to get a 8.7% from SA Home Loan and a 8.15% from Standard Bank... thank you FNB for not helping us. <br>