14 Years of Loyalty — Now a 30% Deposit?

Today I feel more sad than angry.

We were SA Home Loans clients for 14 years. Recently, we had to sell our property due to relocating to another province. Less than four months later, we app**** for a new home loan again through SA Home Loans, only to be told that we do qualify — but with a required 30% deposit.

Realistically, who has a 30% deposit available, on top of transfer fees?

The reason provided was our credit score. This is quite disappointing, considering that for over a year we had no debt at all besides our home loan. After selling the house, the only finance we took on was a vehicle.

We were then told the decision is based on debt that occurred during 2023/2024, and unfortunately there is no way for the system decision to be challenged or motivated.

So my question to SA Home Loans is this: Do you really base your lending decisions purely on the last 24–30 months, without considering a client’s 14-year history and track record?

A very disheartening experience.