Question posted in the Property Law category relating to Eastern Cape
I switched my homeloan from sa homeloans to fnb. While the bond registration procedure was still taking place, the attorneys appointed by fnb called me on 20 November 2020 asking that i deposit a R2000 into their account because sa homeloans was asking for a guarantee 'just in case' the interest would be more than they expected it to be, this was explained to me by the attorneys. I did the R2000 eft into their account. On 02 December 2020 i received a homeloan statement from sa homeloans showing an outstanding balance under R384000, and fnb had approved my application for R390000 and said any balance remaining after paying sa homeloans would be paid to me. On 03 December 2020 i sent the attorneys an email and asked that they give me the 'explanation ' concerning the R2000 i had deposited into their account, in an email because i wanted to query it with fnb and sa homeloans. On 04 December 2020 the attorneys responded via email and said that sa homeloans had actually gotten back to them and said the R2000 was not necessary, and the R2000 would be refunded to me, and that was the last i heard from them. The new bond was also registered on 04 December 2020. On 07 December 2020 i received a 'Repayment letter ' via automated email from fnb showing the current bond balance as R396037, which is the R390000 i had applied for plus the initiation cost, first repayment to be 01 January 2021, which i do not have any problem with. This morning, 09 December 2020, sa homeloans deposited into my account the balanceof the monthly bond repayment which they had debited on 02 December 2020, even though they had initially informed me that it could take up to 40 days to refund any monies due to me. This then made me decide to send an email to the fnb consultant informing her of the situation with the attorneys and requesting her assistance. To this minute she has not responded but 2hrs after sending her the email, the attorneys deposited my R2000 into my account, without saying a word, no mention of the surplus which is due to me.
This is my questions: 1 - what procedure would i have to follow to get the surplus of the R390000 due to me because the same way my R2000 was laying in their account, the surplus is also laying in their account and i have to repay it to fnb yet the attorneys are having the benefit of it. 2 - In the Repayment Letter received from fnb, it states that the R69 monthly service fee would be pro-rated to R62 because the bond had been registered on the 4th day of December, BUT, the monthly bond repayment is the total amount, which obviously cannot be right considering the fact that the bond was still with sa homeloans until 4 December, and sa homeloans had taken payment for those days up to 4 December, so how can fnb charge me for a homeloan for those days which did not exist?
I would honestly appreciate your assistance/guidance and do sincerely thank you in advance.