WR
William R

1 reviews | Active since Mar 2014

29 Feb 2016, 13:40

Lack of communication on building loan

For a first-time home builder the process of requesting a draw is unclear and ill explained.<br> <br> I submitted my forms for a first draw and was (wrongfully) told by the branch that I dont have to submit supporting documents. Only after I followed up through the call-centre a week later was I told I need supporting documents.<br> <br> My main concerns are:<br> - No-one at branch level knows anything about building loans.<br> - There is no way to actually speak to the people analysing the documents you submitted for a progress payment. You have to go via the call-centre and wait a week to hear if they have a note on the system which states whether your paperwork was in order or not.<br> - I received no calls from Standard Bank regarding my draw-request.<br> - These delays result in a building project standing still which can cost thousands!<br> <br> Suggestion:<br> - Allocate each building-loan request to a specialist that can be in constant contact with the client regarding the status of his/her paperwork.<br> <br> Current status:<br> - My scheduled pay-date is in a few-days, but I'm still not sure if my paperwork is in order. All I need is a call to say whether the payment will actually take place on that date!

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Replies (1)
Standard Bank
Standard Bank's reply01 Mar 2016, 09:50
Official
Hello UsuallyPositive,


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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