I was employed at a major bank where I applied for a home loan at a favourable interest rate afforded to employees. It was prime less 2.5% instead of prime less 1.25% for the general public. I signed a credit agreement to that effect.
I have since left their employment, and they have written to me to agree to change the terms of the agreement to that afforded the general public. Of course a deal is a deal, so I have resisted. Nowhere in the agreement does it state that if I leave their employment the benefits of the staff housing scheme lapses. Neither did my employment agreement. It only appears in the pre-agreement quote which is not part of the final agreement. Please advise, as I am being pressurized by the bank.

Category:  Banking & Finance, National Credit Act

Region: South Africa, North-West