1 reviews | Active since Aug 2021
Losing my dream home due to Standard bank's error
I app**** for a bond in May and the bond was granted. I was almost done with the process until the bank declined the paperwork and stopped it from going to the deeds office due to a clause in the bond application. The clause states that the bond is subject to the successful sale and cancellation of the existing bond. However the details for this clause is not for my existing property instead it is for the property I am purchasing. The bank, erf and extension number is for the property I am purchasing and not my existing one. I did query this clause with Betterbond who is our bond originator and the lady said the clause did not apply to me and it was for the seller. My existing property details do not appear anyway on the bond application. I am now waiting for 3 weeks for the deal to proceed since it has been put on hold. Everytime I call the attorney she says she is waiting for Standard bank to get back to her and they take very long. When standard bank eventually came back they said they made an error with the details in the clause and it should be for my existing property and not the property I am purchasing. I am so frustrated to find out that while the process is almost done and I'm waiting for my application to go to the deeds office I was supposed to sell my property and the deal is going to get cancelled because I didnt. If Standard bank did not make an error I would have known sooner that I need to sell my property and I would have done so! I am now trying to contact the bank on my own as I am not getting feedback from my attorney or bond originator. I contacted the call centre on Friday and the guy I spoke to was very helpful and assured me that he would look into it and get back to me on Monday. I have not heard from him yesterday so I called again and spoke to a lady who was also very helpful. She sent an email to the person at Standard bank who is working with my application and today I received an email stating that I need to sell my property which makes me so furious as I was not aware that I needed to and when I have already started packing, made plans for renovations, contractors are waiting for the go ahead to start and getting ready to move in I find out that the bank wants to cancel the deal!!!!!! I am not willing to lose out on this deal due to an error made by Standard bank
***
***
***
***
