FC
Faye C

1 reviews | Active since Aug 2015

31 Aug 2015, 10:19

Home Loan Substitution Nightmare

I have a bond as a co-applicant at standard bank. I have been trying to remove my name from this bond for the last 3 months. It is what should be a simple substitution, however, everything that I am told will take 3 - 5 working days take no less time than 2 - 3 weeks. When I call in to follow up on the status of this substitution, I am told that no information may be granted to me as I have been removed from the standard bank bond papers. However this does not reflect on my ITC credit report. I have made an offer on a new property and have 25 days to have a new bond approved. Standard bank are giving me absolutely no hope that any of this will be sorted out in time as what should have already taken 5 working days to appoint an attorney has taken 14 working days. On top of that the quotation for the substitution home loan expires within 5 working days from Standard Bank and now the other co-applicant has been told that they may have to re-submit the application for the substitution and start from the beginning again!! The turn around time that standard bank has is absolutely appalling and make the experience of having a home loan with them so unpleasant that it is not even worth it!

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Replies (1)
Standard Bank
Standard Bank's reply01 Sept 2015, 08:48
Official
Hello FayeCHB,

Thank you for your posting and allowing us an opportunity to investigate your complaint.

This matter will be assigned to a resolution specialist who will contact you to resolve your complaint.

Kind regards

Complaint Resolution Centre
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