21/06/2008 17:04 - (SA)
Nedbank client relieved
Nhlanhla Ncaca
VUYISILE Hlaba’s long wait for a title deed is over.
“The nightmare is over and I will always be indebted to Hotline,” said Hlaba, who has endured a four-year- long battle with Nedbank.
The Vereeniging home owner entered into an agreement with the People’s Bank, now Nedbank, in 1990 when he sought funds to extend his house. Nedbank granted a loan of R8 000 in the form of a mortgage bond.
However, renovations on the house did not take place because Hlaba never received the money. Despite this, he continued to make repayments on the “loan”.
His employer advised him to do this to avoid being blacklisted. He made weekly payments of R89 and settled the account in September 2005.
But Hlaba failed to prove to the bank that he never received the money and the bank failed to cooperate when he demanded copies of the contract he signed when he applied for the home loan.
Instead Nedbank complained that he owed the bank R3 877 because he had failed to pay his insurance premiums. For this reason, the bank refused to cancel the mortgage bond.
Nedbank’s manager for collections and recoveries, Diana Musara, confirmed to Hotline that Hlaba’s bond account had been settled.
At the time of the loan, the Sedibeng municipality was selling to the residents of the area the houses that they were renting. It appeared that Hlaba may have taken advantage of this because the agreement he signed stated that he was buying a house, yet he wanted money to alter a house he already owned.
Nedbank agreed to cancel the arrears on the insurance and assisted Hlaba with his title deed application. He collected his title deed last Wednesday
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