Interest rate review not available

<p>I got a home loan from Standard Bank in May last year through a bond originator. I took the loan from Standard Bank as they were willing to loan the full amount but not at the best interest rate. The reason why I took it was because I knew the interest rate can be reviewed at a later stage as it is custom throughout the industry. I do this regularly with my FNB home loan. Surely this is normal as you build a relationship with the bank and they see what type of repayer/risk you are. I've also added value to the property by installing a brand new kitchen. Now after a year of not missing any payments and asking Standard Bank to review the interest rate the reply is a s follows:</p> <p>Kindly be advised the pricing department do not re-price home loans post registration. All rate negotiations have to be done at grant stage, prior to the registration of the home loan. The main reason is that the cost of credit which is the legally binding contract between the customer and Standard bank, has been signed and agreed by you.</p> <p>To me that is saying that for the next 20 years I will be stuck with the same interest rate no matter what. If this is the case I will be moving the home loan to someone else very soon, as it is the norm at other banks like ABSA and FNB to review your interest rate on request.</p> <p>This is a really bad attitude to have towards your customers Standard Bank.</p>