FNB Housing Finance Complaints

Getting access to housing finance is a goal of many individuals looking to purchase their own homes. A lack of funds to buy property using cash doesn’t have to prevent anyone from buying their own home. Banking institutions are able to help facilitate this process through dedicated housing finance divisions.  While banking institutions strive to provide the best quality services, sometimes this isn’t always possible. 

Over the years FNB Housing Finance has helped numerous individuals get access to finance to purchase their own homes. Despite this, just like any other industry, there have been a few glitches along the way.

There have been a few FNB Housing Finance complaints which have cast a negative light on the institution.

One case involved customer Ms SK who accused the bank of bad advice, unfair treatment and reckless lending. She was in search of a home loan and ended up being saddled with a personal loan of R60 000 instead.

She lodged a complaint of reckless lending with FNB and the National Credit Regulator.

Following a lengthy process, after she had returned the R60 000 to FNB, she was charged an amount of R5000 for services – which she contested. Eventually she was reimbursed the amount of R5000.

In another case, a fraud complaint was laid by a couple in Cape Town in 2014. This was after the bank attempted to repossess their home in 2008.

The couple contested an attempt by the bank to repossess their home through its FNB securitisation vehicle “Ikhaya,” even though it was not a registered credit provider and had not granted the home loan initially.

In 2014 a disgruntled client created a banner following a dispute he had with FNB. Nico Niemand’s banner read:

“’How Can we help you?’ Not in my case. Not the FNB Care Hotline, nit the CEO of Home Loans, Jan Kleynhans and nit the CEO of FNB, Michael Jordaan at any time during my nightmare dealings with FNB, lived up to the ‘so-called’ promise relayed to the public in all their advertising campaigns.”

The consumer claimed that through irregular management of his bond repayment, FNB auctioned off his property in 2009 when it should not have done so.

To report any FNB Housing Finance complaints, contact: 087 575 9408.

Alternatively send an email to: care@fnb.co.za