SA Homeloans - more like SA Loansharks

They don't want you to leave! Tried to cancel my bond with them. Fortunately there's no penalties associated with the account. Of course they don't like this as the sweet interest won't be coming their way anymore. So they threw on a R16K "contingency" before I was allowed to cancel my bond.

Even after I phoned them, the supervisor confirmed that indeed they will keep me hostage as I can't cancel my home loan until I pay the R16K that I don't actually owe them (they will refund it afterwards). Still need to keep paying my bond until cancellation is confirmed.

Tried to phone the NCR to lodge a complaint. Have you tried to phone the NCR? The one number on their site doesn't exist anymore, and the other one rings about 10 times and then says there's no answer.

So much for protecting consumers from ***** practices by credit providers. We had the option of working something out and getting this paid. I can imagine how these loan sharks exploit people that don't have that option.

Bottom line, stay away from SA Homeloans.