Relying on the information our client started paying the loan and mortgage at the new interest rate, and in order to complete the payments within a short period, this arrangement caused and forced her to withdraw a lot of capital from her business - which was her sole source of income and son after the business was unable to sustain repayments from profit and the liquidity drastically reduced leading to frustration, this made her fail into arrears in meeting the loan and her other financial obligations.

It is our client contention that the credit manager misadvised her and direction taken of converting a mortgage onto a loan and reducing the repayment period from 10years to 3 was not done in good faith, it was not based on professional assessment of our client’s financial ability and was in any event a calculated move by your staff to misrepresent, mislead and defraud our client. With a view of our client defaulting and having her house given as a reward to her colleagues.

As stated above in fulfillment of the conspiracy. Due to the heavy financial constrains and burden, our client was at no position and hence became unable to service her loan. She made several attempts to reach the credit manager and your OTC Branch to be able to review the installment and or revert to the mortgage but she was not attended to nor her proposal considered. We hold in our custody several letters and communications that have been sent to the OTC Branch and none of which has elicited any response.

The non-payment led the Bank to purport to redeem her property which she had placed as security as earlier stated. The Bank indicated that they would redeem the said property via exercise of their statutory power of sale by way of private sale or public auction in order for them to recover their entire amount advanced and the interests that had accrued over the period.

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