Home loan

It's my first time purchasing a house and I happen to be financed by Standard Bank.I was called about an insurance that I didn't have a choice to accept at that time.I asked if I can cancel it should I have my own I was told yes.I later took a life cover of my own and provided it to the attorneys.When the whole deal was finalised and a house registered.Standard bank sent me my installment that included the same insurance that I cancelled even before finalising the process.

I contacted the bond attorney,he advised me to send the bank an agreement and they will amend the installment.That was easy to say because when I contacted the bank they told me that they will cancel it provided I have an existing life insurance,that includes 3 other items which I was not even advised of from the beginning and to send another document which I need to obtain from my current ensure.Mind you the deduction date is approaching.I tried my utmost best to sort this out before month end however, I couldn't.

1.The bank insurance is way to expensive,I cannot afford it. 2.I was not advised that it will be a mandatory to have a life insurance with the loan. 3.I was not advised on the requirements of the life insurance from the beginning. 4.I was not advised that my insurance did not meet their requirements therefore it will be rejected and given and opportunity to apply for one that meets the requirements.

This has been the worst experience of my life,first time purchasing a house all because of standard bank.I have been their customer from 2006 and never for once they have approved me for a vehicle finance nor credit card but other banks did and from then I left them.Its only now that they are valuing me and still they are providing me with the worst experience.I can afford the mortgage that is why I went for the one within my capacity but not a R1000 life cover.

This experience has exhausted me emotionally and financially having to make calls, send emails to a point that I don't even enjoy the house anymore and I'm willing to risk loosing it if it means however, I am not willing to have my name blacklisted.