- Aug 22, 2006
Just make sure this loan break is an interest break as well.
I too have a small (non-essential) retail shop in an expensive shopping mall.The shop I have is managed by Daleglen, who have 4800 properties in Cape Town. They were not interested in what they call "excuses" and said that a lease was signed which must be adhered to
The shop next door manages a maid service and her turnover dropped to zero this morning. Three ladies turned up, instead of 12. There are no customers and all her 10 regulars cancelled
Did you speak to a standard consultant or someone further up the chain.Spoke to Fnb with regards to a home loan payment break, it seems it's the same BAU process thats being followed prior to the Corona virus outbreak. In a situation where no work no pay comes into play how are we meant to continue regular payments???
Both are part of the same group if I am not mistaken.. First Rand Bank Group.I also spoke with FNB and DirectAxiz, it's a no from both after an hour wasted on the phone. I even gave a good amount of notice, as I requested a break for the end of April (my wife will be getting approximately 25% of her salary due to three weeks unpaid leave).
Definitely won't be, and most likely will be making money from it over the loan term.whatever "repayment holidays" banks come up with, you can be sure they will not be losing a cent ....