KAAK NEDBANK HOME LOAN - NOT SIGNINING CESSION FORMS FOR LIFE COVER AND IMPLEMENT STOP ORDER

I have two issues with Nedbank Home Loan Division: I took a home loan with Nedbank and that has been a rollercoaster ride. I am regretting my decision to go with Nedbank is there were other bank who had offered me 100% bond.

Firstly, Nedbank Home Loan Cession Department does not want to sign my Life Cover Cession from Liberty. I am been told that based on the condition of the home loan, life cover is optional. However, the home loan document I signed is encouraging clients to take life cover in the case they are deceased and the property can be paid off.

So why Nedbank cannot sign my cession form so that Liberty can note their interest in the Life Cover? I have been taken to pillar to post. The Nedbank branch is indicating that this is the responsibility of Nedbank Home Loan, because the branch does not offer Home Loan and cannot sign on behalf of Nedbank Home Loan Division.

This means the bank want to repossess my house if I were to pass away. Even their Nedbank Insurance Division cannot provide me with a cover in this case. I had done a quote with them and my bond number is not recognized (new step payment bond). What I do not understand is why is so difficult for Nedbank Home Loan cession department to sign off and acknowledge the life cover I have. Or is this ***** bank wanting to sell this property when I pass away? This issue cannot be resolved to date.

Secondly, I tried doing a stop order payment with my employer (government) for the home loan. The Nedbank Bond number is invalid. Then I was send a letter with a cheque account that was opened without my knowledge. The same cheque account number is also invalid. Meaning I am only left with paying Nedbank Home Loan via my bank account. When there is a long weekend or a holiday, that money will be just laying there in my account.