Heads up about ABSA bond cancellations.

[heartbroken]

On the sale of the house just pay the bond to a nil balance and leave it at that.

I paid my bond off in the middle of last year and it lay dormant until December when I took the full bond amount to purchase another property.
I notified ABSA and for the time that it was dormant I don't think that they charged the R28 fee.

This will never fly, you can't hold a bond over the house of someone else.


DOH, replied to a very old post, but whatever.

 

[zizo911]

Think Absa did this to me too.

If I didnt check after moving my bond to Investec they would have made a nice quick R30 000 profit..

Struggle to give notice in March this year. Contacted their call centre and asked how I could do so.
Was instructed to send an email to [email protected] which I did.
While dealing with transferring attorneys I numerously stated they need to check that I dont pay cancellation fees as I never received any response from Absa's said email address...

Bond registered with Investec only September this year, found out they settled about R30 000 more than I would have expected...

Nobody notified me. Buggers.
I WONT take this lying down

Were you reffering to the transfer attorneys?

 

[hazelhamman]

I made it my mission to sort out all my business with ABSA in 2017.Yes, it's already 2018 and more than a year of work in progress. I've been a client for more than 30 years (I started out at Volkskas). Out of the woodwork crawled more than 10 surityships (2 unlimited) for properties that have been sold, bonds paid and surityships not cancelled. Shouldn't it be standard practise to cancel the surityship when you repay what you owe?? That's not all. Miraculously our initial homeloan was converted into 3 "dekkings verbande" totalling R1 850 000. I have a copy of the initial home loan but neither of the other 2 was sent to me. After months of complaints one was produces but the other one could not be found. I had a meeting with them and it was agreed that I can cancel one of the bonds without any problem. Easier said than done. The lawyer informed me yesterday that ABSA stopped the cancellation as my partner first has to sign a limited surityship (another one!) for the remaining bond. Nothing changed for the remaining bond!! I do qualify for the whole bond on my own. I can't see how they could hold cancelling a bond back because they have slipped up on documents and are now blackmailing me into not cancelling until I sign it. I only have a R1 0000 000 facility and have never used it over the past 5 years. It doesn't make sense to me that people you are actually paying is out to *&^% you over on every chance they get.