Bank wants to repossess Pirates legend’s house – report  

The Sunday Sun reports that the Pirates legend and his wife Mary entered into an agreement with the bank for a bank loan worth R1 170 484,86 at an annual interest rate of 12,20% and have allegedly failed to pay the monthly R8 992, 87 instalment.

“The defendants are presently indebted to the bank under the loan agreement, and therefore to the plaintiff (Sb Guarantee Company Proprietary Limited) under the indemnity, in the amount of R1 170 484,86, being the balance of the total principal debt, with interest at the rate of 12,20% per annum for 2 July 2019 to the date of the payment as reflected on the certificate,” read the court papers.

“The defendants had failed to make payment of the full monthly instalment amounts due under the loan agreement and was consequently in breach of the loan agreement.”

The papers further revealed that the Okparas promised to settle the principal debt of R852 165.71 and an additional R211 500 for a period of 240 months.

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