Mr & Mrs Franker lodged an urgent interdict against First National Bank, by which FNB wanted to place their house on auction for the 2nd time on Monday 16 September 2013, at 10:00 in the morning.

According to Mr Johan Muller, of Consumer Guardian Services (CGS) in Cape Town, FNB wanted to sell the house of the Franker family on a sale in execution, after taking judgement on the 2nd of June 2009. CGS did an investigation on the bond of the Frankers and determined that FNB, for a period of 5 years, used incorrect interest rates on the bond and made the judgement illegally.

According to Muller, the bank wanted to sell the property on 5 December 2011, but FNB realized that they wrongfully debited the account with R58, 809.37 interest.

The auction was stopped because of this incorrectly debited interest. According to Muller FNB undertook to compensate the client with all the legal fees, of R17, 215.94, and to have the judgment set aside. Not one of these undertakings materialized and FNB, once again, tried to sell the property of Mr & Mrs Franker on a sale in execution on 16 September 2013.

The legal team of CGS lodged an urgent interdict in the High Court of South Gauteng, Johannesburg, and stopped the auction.

The Franker Family now have 20 days to lodge their application for rescission of the judgement.

According to Muller (CGS), 91% of bonds in South Africa have been debited with incorrect interest and fees. He says that they regularly catch the banks with these mistakes.