Unauthorized change of personal loan to Home loan and extending of loan term

Good day,

I need some assistance please, I would like to understand how taking a 3 month payment offered to me geta mt personal loan changed to a home loan and an additional 15 months added to this loan without so much as a call to discuss this or an email. The only reason I came across it was when I logged into the website to check my balances.

I have all the proof that I signed up for a 72 month personal loan which has now suddenly been changed to a 87 month home loan. I’m pretty sure home loans and personal loans do not work the same. Are you allowed to charge 27% interest on a “Home loan”.

I have my vehicle finance with you too and took the same option with that and my term was extended by 3 months.

I fail to see how a payment break of 3 months (R5600p/m) (R16800 for the 3 months) gets you to adding an additional 15 months (R84000) and changing the type of loan without my knowledge or consent and also doing so without informing me.

You have all my contact details as you send me statements every 3 months. You call me to offer credit cards etc, I have been a customer of yours for probably the last 5 years through MFC and Nedbank. When I called in yesterday without me giving you any info you were able to tell me who I was.

There should be a call logged with you – ***9

I don’t want any explanation as to what happened, I would like you to correct this urgently. In this difficult time that we all find ourselves in, this is extremely disappointing and underhanded.