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Ian N
1 reviews | Active since Mar 2009
18 Jul 2024, 09:52
Worst Experience EVER!!
Worst experience getting a homeloan with these guys. I signed a loan with x amount of interest and then they charged me Y% interest. Now they are not responding to my requests. The guy Shawn Longwe is absolutely shocking.
Do not do business with these guys if you can help it!
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Replies (5)
SA Home Loans's replyOfficial
19 Jul 2024, 11:31Hi Ian. The Home Loan Rate is Based on a Variable Base Rate as disclosed in the Letter of Acceptance and Loan Agreement documents. The Base Rate is pre-emptive of movements in the Repo Rate which increased by 2% from October 2022, when the Letter of Acceptance was generated, to July 2024 when the Bond Registered. The Interest Rate on your Home Loan increased by 1.8% in the same period. We disclose the interest rate mechanism in the Letter of Acceptance while also clearly pointing out that the interest rate illustrated on the document is indicative and may differ at the time of registration.
SA Home Loans's reply19 Jul 2024, 11:31
Official
Hi Ian. The Home Loan Rate is Based on a Variable Base Rate as disclosed in the Letter of Acceptance and Loan Agreement documents. The Base Rate is pre-emptive of movements in the Repo Rate which increased by 2% from October 2022, when the Letter of Acceptance was generated, to July 2024 when the Bond Registered. The Interest Rate on your Home Loan increased by 1.8% in the same period. We disclose the interest rate mechanism in the Letter of Acceptance while also clearly pointing out that the interest rate illustrated on the document is indicative and may differ at the time of registration.
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Ian N's updateReviewer Update
19 Jul 2024, 13:32This is completely inaccurate. Firstly the letter of acceptance which is not a binding agreement was first signed in 2022. Thereafter I signed a series of documents in June of 2024 which was given to me by the attorneys and that stipulated the 8.7% interest rate, these were the contractual documents. And that it can change quarterly but not before.
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Ian N's update19 Jul 2024, 13:32
Reviewer Update
This is completely inaccurate. Firstly the letter of acceptance which is not a binding agreement was first signed in 2022. Thereafter I signed a series of documents in June of 2024 which was given to me by the attorneys and that stipulated the 8.7% interest rate, these were the contractual documents. And that it can change quarterly but not before.
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Ian N's updateReviewer Update
19 Jul 2024, 13:59Apologies my mistake. Your statement is correct in respect of the Letter of acceptance being generated in October 2022.
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Ian N's update19 Jul 2024, 13:59
Reviewer Update
Apologies my mistake. Your statement is correct in respect of the Letter of acceptance being generated in October 2022.
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Ian N's updateReviewer Update
19 Jul 2024, 14:01However this does not apply as it was not stipulated in the Bond agreement which is what I signed in June 2024.
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Ian N's update19 Jul 2024, 14:01
Reviewer Update
However this does not apply as it was not stipulated in the Bond agreement which is what I signed in June 2024.
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Ian N's updateReviewer Update
19 Jul 2024, 14:02There is no reference to 10.5% and ONLY to 8.7% on the entire document. I don't understand how the document can be falsifying what a person is going to sign for, this is not right!
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Ian N's update19 Jul 2024, 14:02
Reviewer Update
There is no reference to 10.5% and ONLY to 8.7% on the entire document. I don't understand how the document can be falsifying what a person is going to sign for, this is not right!