So Nice We Had to Pay It Twice: A Harrowing Experience with Investec Bank

In 2021, a shocking turn of events left us battling to save our home from being auctioned off due to a loan we never consented to. Investec Bank, in a series of actions that defy trust and transparency, issued a loan on our property to a third co-owner without our knowledge or agreement. Here’s how our nightmare unfolded:

Background: We had initially taken a joint loan with Investec Bank to purchase our house, involving three co-owners. By the end of the first year, we had significantly paid down the loan, leaving only R20,000 outstanding.

The Shock: In 2021, we were blindsided when we discovered that Investec had approved a substantial new loan on our property. This loan was issued solely to the third co-owner, Mrs. PP, who does not reside with us and had no prior communication or consent from us regarding this new financial obligation.

The Nightmare Unfolds: Unbeknownst to us, Mrs. PP decided she no longer wanted to be responsible for this new loan. Investec then began aggressively pursuing us for repayment. We were suddenly faced with the threat of losing our home due to a loan we had no knowledge of, nor did we authorize.

Failed Attempts for Resolution: In our desperate attempts to resolve the issue, we contacted Investec Bank to understand how they could approve a loan without all owners' consent. Despite numerous calls and pleas, the bank refused to provide any assistance or explanation. Instead, they continued to escalate the account and maintained the threats of auctioning our home.

Our Plight: During this ordeal, both my partner and I were unemployed and felt utterly helpless against the relentless demands from Investec. The stress and anxiety of potentially losing our home, without having any part in the loan that triggered this crisis, were overwhelming.

Conclusion: Our experience with Investec Bank has been nothing short of a nightmare. If you’re considering a loan with Investec, be prepared for the possibility of facing unexpected and unjust financial burdens.

Slogan: In light of our ordeal, we have coined a new slogan for Investec: "So Nice We Had to Pay It Twice."

Investec Bank’s actions have left us questioning the integrity and ethics of their lending practices. We hope this review serves as a cautionary tale for others who might be considering their services.