Home Loans - Worst Experience Ever

<p>Dealing with Standard Bank home loans has been the worst experience of my life. I needed a R100k urgently, and after consulting with my FNB banker, it was suggested that a readvance on my home loan would be the quickest and cheapest way to go about this. I contacted Standard Bank as my home loan is with them and they promised that the application takes between 5 and 7 working days. I was optimistic and completed the required documentation. I qualified for the bond 9 years ago on a salary much lower that my current salary. I did not think a readvance would be an issue.</p> <p>My first application was around the 23rd of May 2016. Very shortly after that I received a reply that my application has been declined due to affordability. I phoned the call centre and the agent I spoke to quoted my Net income but listed my expenses including my Tax (PAYE). This means my tax has effectively been doubled. I tried to explain this to her but she did not understand. She asked that I resubmit my income and expense statement. I did so and this time I only used my nett income and expenses excluding my tax.</p> <p>I followed up almost every day, and this is where the MAJOR frustration comes in. The agents don't have direct lines, and there are about 3 call centres. Each time you phone, you get a different agent and they can't put you through to the last agent you talked to. EVERY call you make you have to explain the whole story again. On the 30th of May I made about 7 calls to different agents trying to sort this out. I even spoke to one very arrogant agent trying to explain to me that I can't afford this re-advance, when I asked her how I qualified for the bond in the first place, she had no answer. Most of the other agents were trying to be helpful. </p> <p>This is where the SECOND frustration comes in, these agents do not make the decisions, they can only send messages to "back office". I've asked NUMEROUS time to be called back by one of the back office personnel, but no one has EVER phoned me back from STDB. </p> <p>I spoke to several "senior" agents who all gave me conflicting advice, from creating a new application to reinstating the old one.</p> <p>I've escelated the matter and was promised a resolution within 2 days, then another 2 days, but I have not even receieved a call back from them.</p> <p>It is now the 11th of June and still not a single step closer to resolving this matter.</p> <p>I've contacted FNB today to move my home loan to them with a personal loan to cover me while they wait for the transfer.</p> <p>I honestly dont know how Standard Bank is still in business.</p> <p>Your call centre is ineffective and useless. No one calls you back ever. When I phone now the agents tell me they are confused because of conflicting information on their screens.</p> <p>I hope this review will make anyone think twice before taking up a home loan with Standard Bank.</p>