A bond is the mortgage registered over your property at the Deeds Office, and it is the part of a Nedbank home loan that involves attorneys rather than the bank alone. Nedbank does not publish a separate bond telephone number. Bond matters go through the main contact centre, and the legal steps go through the conveyancing attorney Nedbank appoints.
Official provider route
- Nedbank Contact Centre: 0800 555 111, toll-free and available 24 hours a day, seven days a week
- From outside South Africa: +27 10 217 4076
- Client Complaints Helpline: 0860 444 000 or 011 710 4011, Monday to Friday 08:00 to 17:00 and Saturday 08:00 to 12:00, email [email protected]
Do not use the MFC Contact Centre number, 084 196 4473, for a bond. MFC is the Nedbank vehicle finance division, and a home loan or bond query put to it will be redirected.
Product or service support
Nedbank splits home lending into five journeys, and a bond question usually belongs to one of the last three rather than to a new purchase:
- Buy, to finance a purchase
- Build, to fund construction or a renovation
- Switch, to move an existing bond from another bank to Nedbank
- Manage, to review an existing home loan
- Further lending, to draw money against an existing home loan using the equity in it
Nedbank publishes three calculators, and the one most people need for a bond is not the repayment one. Alongside the affordability and bond repayment calculators there is a separate bond and transfer costs calculator, which estimates the attorney and Deeds Office costs that fall due before registration rather than the monthly instalment afterwards.
Eligibility, account or policy requirements
- The bond is registered only after the legal process completes. Nedbank appoints the attorney, you sign the loan documents and pay the attorney fees, and the attorneys then lodge the bond with the Deeds Office. Registration happens once the Deeds Office is satisfied, and that is the point at which you become the legal owner.
- Attorney registration fees and property transfer costs are payable by you, not by the bank. Nedbank states it will finance up to 109 percent for a first-time homebuyer specifically to cover those upfront costs.
- If you are buying another home, Nedbank advertises up to 50 percent off attorney fees, 0,25 percent off the interest rate for existing Nedbank clients, and up to a further 0,50 percent off for taking an additional home loan.
- Settlement and cancellation is a separate legal process from paying the loan off. Nedbank publishes guidance on it, and a bond stays registered until it is formally cancelled at the Deeds Office.
- Fees are set out in the Nedbank pricing guide, which is a downloadable document rather than a page, so ask for the current version rather than relying on a figure quoted verbally.
Escalation route
- Raise it with the contact centre on 0800 555 111 first, then the Client Complaints Helpline on 0860 444 000.
- A credit and lending complaint goes to the National Credit Regulator on 0860 627 627, [email protected].
- A complaint about the bank itself goes to the National Financial Ombud on 0860 800 900, WhatsApp 066 473 0157, [email protected]. Banks and credit providers both fall inside its jurisdiction, and it is free to the complainant.
- A complaint about advice or intermediary services goes to the FAIS Ombud on 0860 663 274. A conduct complaint goes to the FSCA on 0800 20 3722. These are separate bodies from the bank, and Nedbank lists them on its own contact page.
- Report suspected fraud on 0800 110 929.
Sources
- personal.nedbank.co.za/contact-us.html (contact centre, international, complaints helpline numbers and hours, fraud line, and the ombud and regulator contact details Nedbank publishes)
- personal.nedbank.co.za/borrow/home-loans.html (the five home lending journeys, the bond and transfer costs calculator, the six step application and registration process, first-time buyer financing, attorney fee and rate discounts, settlement and cancellation, pricing guide)