FNB agrees to cancel wrongly registered bond

2010-10-09 14:34

A nurse from Mpumalanga nurse breathed a sigh of relief when he was told that First ­National Bank (FNB) had agreed to cancel a homeloan that was wrongly ­registered in his name.

Africa Mthethwa, who works at Barberton prison, has been engaged in a dispute with the lender since August last year after he discovered that a homeloan account had been added to his FNB account.

When he made enquires at a branch in Barberton he was told that, according to the system, he and his “wife” – a woman named Sarah Mashele – took out a joint homeloan in 1997.

According to Mthethwa, the bank said that Mashele was a widow as he “had died some years ago”.

He said the bank ­refused to remove his name from the account despite him telling them that he wasn’t married to Mashele and didn’t even know her.
The bank’s stance prompted Mthethwa, who is in fact married to a woman named Sbongile, to approach Hotline for help.

“I am requesting you to come to my rescue since this is affecting my marriage.”

Following Hotline’s intervention, the bank decided to remove Mthethwa’s name as co-owner of the ­Barberton house.

“We confirm that FNB will contact the client shortly to ­advise him of the process to have his name removed from the mortgage bond and title deed,” said Deven Smit, head of FNB homeloans servicing.

“Please be advised that FNB homeloans acquired the homeloans account in their joint names from Natal Building ­Society (NBS) Limited on June 8 2002,” he added.

FirstRand Bank, the parent of FNB, acquired the mortgages book of NBS for R11.9 billion. NBS was a ­distressed bank that needed to reduce its asset base and its books were eventually integrated with FNB’s existing residential mortgages book.

However, it is unclear how Mthethwa and Mashele ended up being ­recorded as married and co-owners of the bond.

In a ­response to Hotline, FNB did not say whether it would ­investigate the matter.

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