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1 reviews | Active since Mar 2009

11 Apr 2018, 13:00

Don't take a Standard bank home loan

My greatest regret is opting to take a home loan from Standard Bank. Firstly the attorneys they appointed (Bux attoneys) are in Durban instead of Joburg. Secondly, the documents sent to the attorneys incorrectly included Standard bank building insurance which I had rejected (in the middle of MARCH) based on the quote which was almost double than that of another reputable insurer. A month ago I sent through proof of our building insurance. Now, only on the 9th of April when we are ready to lodge do we find out that it was never processed. To add insult to injury, the bank assessors got the address of the purchasing property wrong. Bux attorneys have kept telling us they are waiting for Standard bank, and had no clue how to escalate the matter. A consultant just told me that they were in fact notified about what to do on the 26th of March, but only sent an email through to a liaison officer on the 9th of April. I have spoken to numerous call centre operators and team leaders who keep sending emails to different departments, with no promise of any timeline to sort this out. I have been told we have no choice but to continue to deal with the attorneys who don't even return calls. We now have to wait for the documentation to be changed, then sign the new documents (note again we are in joburg and the attorneys are in durban) and the attorneys need to resubmit the documents. From our experience, we have NO FAITH in the attorneys to do this any time soon. There are 3 properties waiting to be lodged at once and Standard bank is the only mountain standing in our way. We have the buyer and seller upset with US for wasting time. The bond was first approved on the 28th of FEBRUARY!!! We should have moved into our house by now. The lesson learnt is to never take a bond from Standard bank again. This has been a nightmare of note. We are wondering whether to cancel this by the end of business today and going with FNB, especially since no one is willing to stand up and say they are working on it.

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Replies (1)
Standard Bank
Standard Bank's reply11 Apr 2018, 13:10
Official

Thank you for posting your comment.

We assure you that as an organization we are committed to providing the best possible service and assure you that this will be addressed as a matter of urgency.

We apologize for the inconvenience and undue frustration, this has caused.


Kind regards


Complaint Resolution Centre
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