SN
Sandile N

1 reviews | Active since Feb 2015

22 May 2015, 06:17

Sick of Standard Bank *********** Homeloans Staff

Almost every other time I experience really noticeable bad service it is at Standard Bank. A building loan is measured in % of work complete from 0 to 100% which has the equivalence in Rand value of the building loan amount held by the bank. As progress is made in the building the loand is dispersed in equivalent terms until the house is at 100% (complete) and the withheld loan is a R0.00. Now for a house that is R2,2 million rands building costs, 8% building progress is = R180 000. Now I find quite disturbing that having made almost 9% (now up -to 93% complete) building progress in my house I get payed R50 000 which is 2% progress. The idea of call center staff who have no idea whats going on really makes things worse. I find it sickening that each time a query is made one must wait for 48 hours only to get no response and then another escalation for another 48 hours and so on. During this time one continues to pay for interest on the loan that the bank does not want to spend. My interest is to finish this house, refinance with a serious bank and get out of this obvious capitalist Standard Bank. Its a joke perhaps the biggest problem is the management. DISAPPOINTING!!!

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Replies (1)
Standard Bank
Standard Bank's reply27 May 2015, 16:33
Official
Hello 1Dlalose,

With reference to the above complaint, feedback will be provided shortly via email.

Once again sincere apologies.

Kind regards

Pearly James
Complaint Resolution Centre
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