Banks can’t make homeowners pay for botched repossession cases – court
In one case involving Standard Bank, the court was presented with eight different affidavits relating to the valuation of the property.
The Mpumalanga High Court recently threw out three cases against three different mortgage lenders for the shoddy manner in which they attempted to repossess residential properties without doing proper valuation reports, as required by the courts.” Asked whether the bank intends reviewing its valuation processes in light of the court ruling, Standard Bank says it regularly reviews its processes and documentation as part of its ongoing governance framework.
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