NR
Neeran R
1 reviews | Active since Sept 2013
20 Dec 2022, 12:03
Negligence & unfair business practice
I have recently purchased a property and within a month of the transfer we experienced a server hail storm. This has damaged my roof, ceiling and wooden floors. The internal assessor report states "Wear & tear". How is it "Wear & tear" on a property that was purchased within a month?... This is unfair business practice and negligence on Standard Bank Insure to insure a property, which they currently consider the roof being "Rusted". If "rust" was the cause, then the first assessor should have rejected the cover initially.
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Neeran R's updateReviewer Update
11 Jan 2023, 09:30The below is the reply from Standard Bank. I would urge anybody who has their property insured with Standard Bank Insure, to change it immediately before your time of need. Their poor business practices will and should not be tolerated.
Good day Mr Ramdhanee
This email serves to acknowledge receipt of your complaint and thank you for bringing it to our attention. We apologies for the drop in service levels you experienced. Please note that we will investigate and review the matter in order to resolve it as quickly as possible.
Kindly note we have engaged home loans and noted as per the assessment done is only for monetary value. Please note i have attached the cost of credit agreement clause below.
It is not the responsibility of a valuator to look for concealed building defects. In terms of the current legislation, it is up to the Purchaser to satisfy him/herself with what he/she has purchased and is acceptable to him/her. The Standard Bank HomeLoans Division or Standard Insurance Limited can therefore, not be held liable for any latent, patent or structural defects in the insured’s property
We only cover You for the events listed below or under “Extensions of cover” (if this applies).
We respectfully wish to also highlight to you the following clauses that are included in your bond documents:
3. The Code of Banking Practice addresses consumers as follows:
5. CONDUCT
5.3.2 As financiers they have neither the skills nor the resources to monitor or control the quality of the property you are building or buying. They will clearly inform you that their appraisal is solely to enable them to assess the value of the security to them. It is not intended to be an evaluation of the present or future market value of the property, nor does it have it to be the same as the purchase price. They do not necessarily inspect the property and do not accept any responsibility or liability for the structural or other conditions of the property, even if the loan is a development or building loan.
And
5.3.5 Issues of home quality are the responsibility of the seller (or builder or developer) and yourself as buyer. Homes younger than 5 years may also have a National Home Builders Registration Council Limited Warranty. You must satisfy yourself to the best of your ability that you are buying a sound property, compliance with local authority requirements and replacement costs or the buildings and improvements from
Should you still be dissatisfied with the decision, you may refer your complaint to the Ombudsman for Short Term Insurance.
Kindly note that you need to do this within 90 days from the date of this letter.
The Ombudsman for Short Term Insurance
PO Box 32334
Braamfontein
2017
Phone: ***
Fax number: ***
Email: ***
Kind Regards
Mahommed.S.Khan
Executive and Social Media Moderator
Tel: 27(0)860 101 101
***
www.Standardbank.co.za
For escalation, please contact
Manager: Railene Govender ***
Good day Mr Ramdhanee
This email serves to acknowledge receipt of your complaint and thank you for bringing it to our attention. We apologies for the drop in service levels you experienced. Please note that we will investigate and review the matter in order to resolve it as quickly as possible.
Kindly note we have engaged home loans and noted as per the assessment done is only for monetary value. Please note i have attached the cost of credit agreement clause below.
It is not the responsibility of a valuator to look for concealed building defects. In terms of the current legislation, it is up to the Purchaser to satisfy him/herself with what he/she has purchased and is acceptable to him/her. The Standard Bank HomeLoans Division or Standard Insurance Limited can therefore, not be held liable for any latent, patent or structural defects in the insured’s property
We only cover You for the events listed below or under “Extensions of cover” (if this applies).
We respectfully wish to also highlight to you the following clauses that are included in your bond documents:
3. The Code of Banking Practice addresses consumers as follows:
5. CONDUCT
5.3.2 As financiers they have neither the skills nor the resources to monitor or control the quality of the property you are building or buying. They will clearly inform you that their appraisal is solely to enable them to assess the value of the security to them. It is not intended to be an evaluation of the present or future market value of the property, nor does it have it to be the same as the purchase price. They do not necessarily inspect the property and do not accept any responsibility or liability for the structural or other conditions of the property, even if the loan is a development or building loan.
And
5.3.5 Issues of home quality are the responsibility of the seller (or builder or developer) and yourself as buyer. Homes younger than 5 years may also have a National Home Builders Registration Council Limited Warranty. You must satisfy yourself to the best of your ability that you are buying a sound property, compliance with local authority requirements and replacement costs or the buildings and improvements from
Should you still be dissatisfied with the decision, you may refer your complaint to the Ombudsman for Short Term Insurance.
Kindly note that you need to do this within 90 days from the date of this letter.
The Ombudsman for Short Term Insurance
PO Box 32334
Braamfontein
2017
Phone: ***
Fax number: ***
Email: ***
Kind Regards
Mahommed.S.Khan
Executive and Social Media Moderator
Tel: 27(0)860 101 101
***
www.Standardbank.co.za
For escalation, please contact
Manager: Railene Govender ***
NR
Neeran R's update11 Jan 2023, 09:30
Reviewer Update
The below is the reply from Standard Bank. I would urge anybody who has their property insured with Standard Bank Insure, to change it immediately before your time of need. Their poor business practices will and should not be tolerated.
Good day Mr Ramdhanee
This email serves to acknowledge receipt of your complaint and thank you for bringing it to our attention. We apologies for the drop in service levels you experienced. Please note that we will investigate and review the matter in order to resolve it as quickly as possible.
Kindly note we have engaged home loans and noted as per the assessment done is only for monetary value. Please note i have attached the cost of credit agreement clause below.
It is not the responsibility of a valuator to look for concealed building defects. In terms of the current legislation, it is up to the Purchaser to satisfy him/herself with what he/she has purchased and is acceptable to him/her. The Standard Bank HomeLoans Division or Standard Insurance Limited can therefore, not be held liable for any latent, patent or structural defects in the insured’s property
We only cover You for the events listed below or under “Extensions of cover” (if this applies).
We respectfully wish to also highlight to you the following clauses that are included in your bond documents:
3. The Code of Banking Practice addresses consumers as follows:
5. CONDUCT
5.3.2 As financiers they have neither the skills nor the resources to monitor or control the quality of the property you are building or buying. They will clearly inform you that their appraisal is solely to enable them to assess the value of the security to them. It is not intended to be an evaluation of the present or future market value of the property, nor does it have it to be the same as the purchase price. They do not necessarily inspect the property and do not accept any responsibility or liability for the structural or other conditions of the property, even if the loan is a development or building loan.
And
5.3.5 Issues of home quality are the responsibility of the seller (or builder or developer) and yourself as buyer. Homes younger than 5 years may also have a National Home Builders Registration Council Limited Warranty. You must satisfy yourself to the best of your ability that you are buying a sound property, compliance with local authority requirements and replacement costs or the buildings and improvements from
Should you still be dissatisfied with the decision, you may refer your complaint to the Ombudsman for Short Term Insurance.
Kindly note that you need to do this within 90 days from the date of this letter.
The Ombudsman for Short Term Insurance
PO Box 32334
Braamfontein
2017
Phone: ***
Fax number: ***
Email: ***
Kind Regards
Mahommed.S.Khan
Executive and Social Media Moderator
Tel: 27(0)860 101 101
***
www.Standardbank.co.za
For escalation, please contact
Manager: Railene Govender ***
Good day Mr Ramdhanee
This email serves to acknowledge receipt of your complaint and thank you for bringing it to our attention. We apologies for the drop in service levels you experienced. Please note that we will investigate and review the matter in order to resolve it as quickly as possible.
Kindly note we have engaged home loans and noted as per the assessment done is only for monetary value. Please note i have attached the cost of credit agreement clause below.
It is not the responsibility of a valuator to look for concealed building defects. In terms of the current legislation, it is up to the Purchaser to satisfy him/herself with what he/she has purchased and is acceptable to him/her. The Standard Bank HomeLoans Division or Standard Insurance Limited can therefore, not be held liable for any latent, patent or structural defects in the insured’s property
We only cover You for the events listed below or under “Extensions of cover” (if this applies).
We respectfully wish to also highlight to you the following clauses that are included in your bond documents:
3. The Code of Banking Practice addresses consumers as follows:
5. CONDUCT
5.3.2 As financiers they have neither the skills nor the resources to monitor or control the quality of the property you are building or buying. They will clearly inform you that their appraisal is solely to enable them to assess the value of the security to them. It is not intended to be an evaluation of the present or future market value of the property, nor does it have it to be the same as the purchase price. They do not necessarily inspect the property and do not accept any responsibility or liability for the structural or other conditions of the property, even if the loan is a development or building loan.
And
5.3.5 Issues of home quality are the responsibility of the seller (or builder or developer) and yourself as buyer. Homes younger than 5 years may also have a National Home Builders Registration Council Limited Warranty. You must satisfy yourself to the best of your ability that you are buying a sound property, compliance with local authority requirements and replacement costs or the buildings and improvements from
Should you still be dissatisfied with the decision, you may refer your complaint to the Ombudsman for Short Term Insurance.
Kindly note that you need to do this within 90 days from the date of this letter.
The Ombudsman for Short Term Insurance
PO Box 32334
Braamfontein
2017
Phone: ***
Fax number: ***
Email: ***
Kind Regards
Mahommed.S.Khan
Executive and Social Media Moderator
Tel: 27(0)860 101 101
***
www.Standardbank.co.za
For escalation, please contact
Manager: Railene Govender ***