Home Loan Interest Rate Incorrect

<p>In October 2012, I was initially granted a building loan by Standard Bank and the interest rate was set to 10.74% (prime + 2.24%). I then called the bank requesting a review of the interest rate, and a few days later a lady from the bank called to advise that the interest rate review was successful and the interest rate was adjusted to 8.54% (prime + 0.04%). On the 18th of June 2013, the bond attorneys sent me a quotation from the bank and I advised them that the interest rate in the document is incorrect as it reflected 10.04%, they advised that I must call the bank. I then called on the 18 June 2013 (the bank must have a recording of this) and the consultant assured me that on the system the interest rate reflects as prime (8.5%) + 0.04% and that the additional 1.5% will be adjusted down after the building has been completed. I app**** for a further loan in October 2015, this was approved at a rate of Prime + 1.12%. Fast forward to 15 July 2016, I called the bank to enquire what the interest rate is on my account and I was shocked to find that the interest was 12.04% (prime + 1.54%) for the initial loan and 12.62% (prime + 2.12%) for the further loan. I was also advised that the bank cannot adjust the interest rate because the bond was registered. I would like to know why the 1.5% has not been removed from the initial loan amount and why I am charged an additional 1% on the further loan.</p>