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Paying Kshs 250,000 per month Interest: Can I Sue my bank?
Rongla
#1 Posted : Monday, October 22, 2012 12:51:13 AM
Rank: Member


Joined: 10/3/2008
Posts: 101
I have a construction mortgage with a local bank. Since I took out the mortgage, the bank has been employing every trick in the book to squeeze as much money from me as possible.

The mortgage was to be disbursed in four installments against a valuation report by the banks'certified valuer and my architect's stage completion cerficate.

However, every time I have furnished the bank with valuation report and Architects cert,and requested for a drawdown. It has been taking the bank 4 weeks or more, before releasing the funds.

While in the meantime I am paying interest on the funds already disbursed.
I find this unacceptable. It is causing me great financial loss and constant delays in the construction.

Can I sue? Any lawyers in the house
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