Nedbank is in the business of helping you lose your home.

<p>I have been a client with Nedbank for +/- 20 years, I invested in a home loan with them in 2008, and at this stage I owe less than a third on my property of what it’s worth. I went to my branch explaining to them my situation, and on their referral did a consolidation loan of my debt, which would be merged into my home loan within a month or so. The loan was approved no problem, however when I went to the branch to consolidate the loan into my home loan, it was denied, the banker whom assisting me regarding this matter appealed, and again it was denied. Now how is this possible that Nedbank approved a consolidation loan, whit a premium of R6 505.51pm (which by the way I can’t afford), but isn’t willing to consolidate this loan into my mortgage bond, which will coast me less than R2000.00pm, based on affordability? And with this loan merged into my bond, I will still be owing lease than half of what the property is worth, and have +/- R4 500.00 extra on my cash flow every month, and my only debt will be my bond. Either this is a case of recluse lending, or the people at home loans cannot do there maths. Bat now this is going to cost me my home, and that is not fair at all, I trusted them.</p>