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Posts Tagged ‘assessors’

Surprise surprise, FNB stuffed up our loan application – more precisely, the consultant to whom we went to consult and aid us in applying for a building loan.

Henk phoned the bank and asked what the problem was. Apparently not all the paperwork was submitted (from the consultant’s side) and even though were are pre-approved for a building loan, we have to have 50% deposit. That is not a typo. 50%. If I had 50% of what we are planning to borrow, I would be building my home cash.

Nedbank on the other hand ALSO pre-approved our loan, but for some funny reason they don’t accept the already-paid-for-we-own-it property as security and something or another – Henk doesn’t accept their terms and conditions. Basically comes down to us having to build our house cash.

In the meantime, an assessor from Piketberg came through, on behalf of one of the banks – I don’t know which, I forgot to ask Henk. Point is, he said (the assessor) that the house we want to build is too grand for the area. I wanted to klap someone. Not only is our property on one of the smallest plots in town, you should see the colossal houses in that town. Our plot was part of one big plot, and then the original owner divided it in two. There is already a house standing on the one plot – and get this – It’s cash price is about 40% more than what we are planning to build. If we were in a city, it would be prime property. We are right across the school, walking distance from church and shops. (well, everything is in walking distance.. it’s a small town; besides the point). So I cursed the assessor and his little wannabe-actuary-attitude.

We decided to try ooba. They are like a broker between the Banks and us, and are Experts in Home Finance. Henk phoned their branch in Vredenburg and the lady told him that she knows exactly what we want to do.  She will help us apply for a 100% building loan. We must just submit our docs to her. She will ensure all our paperwork is correct and include us wanting to use the property itself as security.

Today she wanted my Feb pay-slip. Yes, that one. Let’s see how this goes. Wonder if they’ll send a different assessor this time. And with my luck, Standard Bank will approve us.

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