Dear Editor,
It is often said that the greatest sin is to be poor and to uplift your life you need to borrow from the banks. Borrowing from banks is easier said than done. On the 10th of November last year I repaid my last mortgage installment to the New Building Society (NBS).
Breathing a sigh of relief and thinking that I was over with the fees from the beginning, I was told that I have to pay an additional $20,000 for “ cancellation of the mortgage”. Reluctantly I paid the same.
In the meanwhile I applied for a commercial loan from IPED, NBS not offering loans in this category. That loan has been approved but I cannot get it since the interconnected banking system continues to show that I am still indebted to NBS.
I contacted NBS and was told that the cancellation documents were with their law firm. I contacted the law firm and was assured that they had done their part in my “mortgage cancellation” since the 8th Dec 2023.
A visit to IPED on Monday 18 March 2024 continues to show that I have a mortgage with NBS.
This is frustrating. It seems that NBS after having the best of its customers in the form of interest and fees, could care less about updating the customer’s status as a non- debtor to NBS in the interconnected banking system.
Yours respectfully,
(Name and address supplied)
