DV
Danie V

1 reviews | Active since Jan 2010

19 Jul 2018, 14:37

A Building Loan cannot be converted to an Access Bond

I have a bond with the Standard Bank that was an Access Bond. The bond was originally entered into to purchase an empty stand with the purpose of building a house. Standard Bank extended this bond in order that I can build a house. The bond was converted from an Access Bond to a Building Loan. The house is now complete and I wanted the bond to be converted to an Access Bond as it originally was. As it stands the balance on the bond shows "Available balance" R*** amount. On applying to have the bond converted to an Access Bond, I am told that it cannot be done as a Building Loan cannot be converted to an Access Bond.

Please tell me I am missing something? What about the "Balance available"?

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Replies (2)
Standard Bank
Standard Bank's reply19 Jul 2018, 15:31
Official

Dear Danie

Thank you for posting your comments.

Your matter was escalated accordingly.

We will revert to you as soon as possible.


Kind regards


Complaint Resolution Centre
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*** (fax)
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Standard Bank
Standard Bank's reply25 Jul 2018, 09:30
Official

Dear Danie

Thank you once again for posting.

I refer to our email correspondence with each other and can confirm that the matter is being attended to.

Kind regards

Clint Petersen

Complaint Resolution Centre

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