South Africa 29.8.2018 02:55 pm

Nedbank customers must pay bonds even if land is expropriated

Picture: Gallo Images

Picture: Gallo Images

A controversial email from Nedbank is doing the rounds on social media, calling on property owners to continue to honour their home loan agreements with the bank, even if their land is expropriated.

Kedibonea Molopyane, Head Group Media Relations at Nedbank, has confirmed to Roodepoort Record that the email pertaining to expropriation without compensation and property owners bonds is indeed legitimate.

The email was circulated on social media platforms and caused a stir among property owners.

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The gist of the email is that property owners will have to keep on paying their bonds even if their property is expropriated without compensation.

“It is important to note the Home Loan agreement is subject to a contractual agreement, and bond payments remain due and payable until such time that the bond is paid in full irrespective of any form of land expropriation – with or without compensation. We would encourage you to continue with the bond payments until such time a determination is made,” the email reads.

Molopyane indicated that she will respond with a clarification of the content of the email in due course.

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