SP
Stephen P

1 reviews | Active since Dec 2013

03 Jul 2021, 23:00

Standard bank home loans Dept Lost title deed

tldr: Home loans lost title deed, as a result bond not registered after 6 months. If i could give 0 stars i would have.

My issue is not the whole of standard bank, just the home loans department and who ever keeps the title deeds. Do not take a home from standard bank. I have been struggling to get my 3rd mortgage sorted out for months now. It has been approved in December last year/ Jan 2021. I signed the documents in the beginning of February . Unfortunately Standard bank lost the title deed and now My Bond registration is standing still. I am just waiting for the bond registration. It took 4 months to get standard bank to find copies for the registration, but as they are not the originals a new title deed has to be created and that means posting in the government gazette... those guys seem to be hiding as no one can get hold of them to post. Which means is My bond is still not registered. All my quotes for building have expired, i cannot build, i cannot improve my cash flow. The dream my wife and i had for Creating the perfect home is now just a dream. Unfortunately i cannot even move the home loan to a different bank as i still have to go through the process of re creating the title deed. I am not even sure why i am still continuing to pay the bond. Time is running out and it looks like if this is ever resolved i will end up trying to build in the rainy season. I had everything ready to build, even alternative temporary accommodation. which is now just standing in the son and getting bleached by the son. The main reason i am Still bothering to try is because my private banker is as helpful as she can be . This is ridiculous as it has taken 6 months now and counting for the registration to go through. ( after 3 months i got my banker involved and suddenly the home loans department found a copy after nothing happening on their side for 3 months. I can't even claim compensation for the stress and frustration this has caused. what if i had to sell my house? Standard bank approved my home loan, standard bank lost the title deed. now I must suffer, ( and i pay service fees etc to suffer,.) I did not even get a sorry we messed up, just the law says to go through this process nothing we can do.... after standard bank lost the deed,. I just hope i will not be charged for the extra fees involved with recreating the title deed. I also hope the costs for building have not increased too much over the last 6 months.

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Replies (2)
Standard Bank
Standard Bank's reply04 Jul 2021, 00:20
Official
 
Hello
 
Thank you for posting your comment. 
 
We assure you that as an organization we are committed to providing the best possible service and assure you that this will be addressed as a matter of urgency. 
 
We apologize for the inconvenience and undue frustration, this has caused.  
 
We greatly appreciate your continued support  
 
Kind regards, 
Complaint Resolution Centre
*** 
*** (fax)
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SP
Stephen P's update21 Sept 2021, 15:18
Reviewer Update
Well the bond registered today. My quotes for building have increased by almost R25000, still waiting for the lawyer fees. Thank you Standard Bank home loans for losing my title deed. And causing months of frustration. I honestly hope i do not end up paying extra fees for all the hassle the standard bank home loan people have caused by losing such an important document.