1 reviews | Active since Mar 2009
Worst Than *********
<p>I have been paying around R10k per month for the last 60 months. Standard Bank claims that I have only repaid R37k on my homeloan... There is no calculation in the world that will make me accept that I have paid R**** with absolutly no benefit to myself!! They are robbing us with holding a gun to our heads! I have already written to John Robby and will be reaching out to Carte Blance next. Lets hope one of these avenues exposes the absolute rediculas and ******** behaviour</p>
Good day Pieter JJ
Thank you for your posting and allowing us an opportunity to investigate your complaint.
This matter will be allocated to a resolution specialist who will contact you to resolve your complaint.
Kind regards
Complaint Resolution Centre
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********** (fax)
**********
Good day Pieter JJ
Thank you for your posting and allowing us an opportunity to investigate your complaint.
This matter will be allocated to a resolution specialist who will contact you to resolve your complaint.
Kind regards
Complaint Resolution Centre
***
********** (fax)
**********
I am sorry that you feel the Bank is robbing you.
Attached for ease of reference is the Cost of Credit [mortgage loan contract], and a full history statement for your perusal.
The term was agreed at 360 months [30 years], and rate was set at prime, which at that time was 9%. The rate has unfortunately increased in line with the Reserve Bank, and currently is 10.5%.
Also noted on agreement is the total interest that will be repaid on the loan over the agreed term, which was then noted as R 2 048 371.20. This figure will change, depending on rate of loan as well as if term is reduced at any point of loan contract.
This interest, which is charged monthly, is debited to the loan monthly.
The result of this is, as can be seen on statement, that the repayment received monthly, covers interest in full and only reduced capital minimally. The capital reduction will increase as balance on loan reduces, if continued repayment continues.
Please peruse attached details, and refer back to me directly with further concerns you may have.
Kind regards
Penny Rabe
I am sorry that you feel the Bank is robbing you.
Attached for ease of reference is the Cost of Credit [mortgage loan contract], and a full history statement for your perusal.
The term was agreed at 360 months [30 years], and rate was set at prime, which at that time was 9%. The rate has unfortunately increased in line with the Reserve Bank, and currently is 10.5%.
Also noted on agreement is the total interest that will be repaid on the loan over the agreed term, which was then noted as R 2 048 371.20. This figure will change, depending on rate of loan as well as if term is reduced at any point of loan contract.
This interest, which is charged monthly, is debited to the loan monthly.
The result of this is, as can be seen on statement, that the repayment received monthly, covers interest in full and only reduced capital minimally. The capital reduction will increase as balance on loan reduces, if continued repayment continues.
Please peruse attached details, and refer back to me directly with further concerns you may have.
Kind regards
Penny Rabe