UNFAIR HOME LOAN APPLICATION OUTCOME

<p>I app**** for a home loan beginning of October. It was pre-approved on 7 October, the evaluator was sent to evaluate the house. After evaluation i was sent a letter declining the loan. The bank stated that the house offered as security is not acceptable to the bank as the value of the house might be affected negatively. No one at the call centre could give me a reason what is exactly wrong with the house. I was also surprised to get such response because tye house i was buying was in a new development area. It is was of the first phase houses which were built. There development is still continuing and people are still buying houses, I am wondering if FNB is not giving loans to those people who are buying the houses in this area ( Kirkney Village - Pretoria ). Anyway, within 2 weeks i had managed to get property. I went to fnb because they told me in the decline letter that i do qualify for the bond amount requested should i need to look for another property. However, my application will be re assessed. I'm shocked by the immediate decline in my loan, i don't think much would have changed on the credit beaur within 2 weeks. Moreover, within the 2 weeks i managed to pay off three accounts. I attached paid up letters. It is sad that when any financial institution deals with applications, they don't check the reasons why you skipped payments etc. In my case, i was busy with a divorce, list everything that i built for over 15 years because of a man. Now, my kids must suffer, even if i die tomorrow they won't have a home. The good salary I'm earning means nothing, all my paid up letters mean nothing. It'svery sad because it's not the first time to be treated this way by fnb. I used to be a private banker, i couldn't even get the credit card. I closed my account. I went and opened an premier account last month hoping to get a bond since my own bank declined my finance. I'm greatful you declined before i did a salary switch because I'll be closing that account, including my children's fluid accounts. It's time i write a thesis on the way banks treat their clients, as if the bank is doing them a favour. </p>