The Weekend View

Banks dig in their heels over home repossessions


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In June this year we had an extensive interview with  Advocate Douglas Shaw, who is spearheading the R60 billion class action against the major banks, for repossessing homes and selling them off for a fraction of their worth.  Banks in South Africa have been criticised for using aggressive tactics to address home loan arrears. Some of these tactics include initiating legal action for repossession even when homeowners are actively reducing their arrears, imposing excessive legal costs that quickly surpass the actual debt and failing to engage meaningfully with customers before resorting to court action. Bongiwe Zwane spoke to Advocate Douglas Shaw on the latest developments 

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