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Hi Maya. My mom got a great ABSA Flexi bond out of R330000. She had a 2nd thread out of R150000. Their own the fresh new bond is R488000 and additionally costs. She utilized roughly R100000 of your financing over 12 months. I got a look at their own yearly financial report and you can try astonished to track down they additional R100000 so you can their particular thread that’s today R608000. It extra the loan double and there’s zero loan harmony kept that needs to be roughly R40000. We’re struggling consistently getting that have Absa so you’re able to rectify this matter. Today he’s forcing their particular to sell just like the she can’t afford the latest instalment. Please Help.

Hey I’ve a fifteen years thread having StandardBank. I’m now left with half a year of the package term. You will find never ever withdrawn from my personal availability bond whilst rate of interest fell along side several months. What are the results to this number shortly after 6 months?

What do you suggest of the get rid of terminology? Do you wish to reduce that point of your own financing otherwise slow down the fees?

I spent thirty minutes to the phone this morning with simple lender HL dpt, place myself on keep to have 80% of the time

Hi, I hope you could potentially assist Lender property loan. I was always capable supply the bucks I had paid in to my thread, I am today expenses an extra R1000 on top of the month-to-month fees. Up until months before, my personal standard bank app reflects that i gain access to no money also hard We have reduced R17000. As to why can not I get the means to access my loans. They just told you you really have no available money. However, i will provides as I was investing in the a lot more and you will they shows since the R17000 repaid. The means to access my personal currency could have been recinded off me. They state I want to make an application for a good readvance? help.

How you can utilize the supply bond will be to maintain the initial installment making sure that every extra money you devote during the remains offered

Upload me a contact along with your security passwords and i also usually forward to Financial institution. It could be a network glitch considering the commission getaway programme. It appears to be to have thrown upwards all sorts of items!

Hi Maya I needed to activate the brand new supply bond having practical lender . I found myself informed that if I withdraw the excess currency i will have paid back for the accessibility bond i can have to pay they back which have attract. Very does this suggest the bucks regarding access bond was brand new bank’s? I thought this would really works just like a bank account.

An access thread allows you to shell out for the money over and significantly more than your own installment payments owed. Since you have put in additional money it reduces the rand value of the eye you only pay because the attract is now energized to the a lowered matter. Such as for instance ten% into the R500 000 would-be R50 000 but if you paid back in the R100 000 and you can quicker the balance so you’re able to R400 000 then the interest are 10% to your R400 000 so R40 000. For many who then mark off one to most R100 000 you’d paid-in, your own outstanding equilibrium dates back as much as R500 000, which means your appeal goes up so you can R50 000. Another thing to bear in mind, when you have set up even more plus month-to-month installment minimizes, following the main more funds you spend is going to the installment so the count one stays available reduces. Does this establish it?