Home Loan Application Fiasco

1) In 2018 my partner and I purchased a property together. Due to personal circumstances this year she needed to withdraw from the partnership. 2) In August this year I submitted an application to a) Request a substitution of debtor and b) Draw down R100,000 to repay to her the cash investment initially we each contributed. The original bond application interview document clearly shows the intention. 3) The two aspects of the application were mutually dependent upon each other for the successful conclusion of the transaction. Having received the bank’s approval, I incurred costs totaling R48,149.75 in legal fees and transfer duties. However, upon registration, when I approached the bank to draw down the required amount to repay my partner, I discovered that the bank hadn’t given consideration to the second half of my application and that a fresh application had to be submitted for that to be considered. The new application was declined on the basis that they were unable to establish affordability. Bearing in mind that 2 months prior to this, they had approved a bond of R1,300,000. The additional R100,000 would increase the bond repayment by approximately R1000. But in the interim my expenses have reduced by R4200 per month with the completion of my son’s studies. This alone would more than cover the increased bond payment. 4) I am now faced with the situation of not being able to fulfill my obligation to my partner which may result in the property having to be sold. The bank have been remis in not having considered my application in its entirety and having misled me that they had. If not resolved I believe there may be grounds for a claim for damages and expenses incurred.