Court orders Gauteng couple to repay R2.1 million home loan.
The South Gauteng High Court in Johannesburg has granted Standard Bank summary judgment against a Gauteng couple who defaulted on their home loan.
The court ordered the couple to repay more than R2.1 million while granting a five-month window to save their home from being sold in execution.
Acting Judge Shadrack Tebeile ruled that VK and RK, who are respondents in the case, had failed to raise a bona fide defence against the bank's claim, paving the way for Standard Bank to enforce its rights under a mortgage bond.
The dispute arose from a home loan agreement concluded in September 2010, under which Standard Bank advanced the couple over R1.8 million. The loan was secured by a mortgage bond over their residential property in Gauteng.
