Avoid a bond at SA Home Loans – Unhelpful, Unsympathetic and Litigious!

Zero stars! Be warned of how badly SA Home Loans treats its customers if they fall behind on payments! With a pandemic and the uncertain economy, it can happen to anyone! To balance our budget and pay the bond, we take in tenants. Our cottage tenants lost their jobs around the start of the Covic-19 pandemic. The lockdown regulations did not allow us to evict them but, in any case, it did not seem humane to make them homeless. We fell behind on our SAHL bond. SAHL offered us a "sell assist" (at our expense) but also instituted legal action –a "good cop / bad cop" game.

The tenants now have jobs and are holding their own with the rent, though not reducing their arrears much. We offered SAHL an arrangement, which they accepted. But to stop legal action they want us to sign an agreement that effectively hands them the property if we miss a single payment. We're also supposed to know what the arrears are at all times, yet they do not allow us to register for their client zone. They are not willing to budge on their unreasonable and coercive conditions.