Football player Thabo’s home to go on auction due to debt

Popular South African football star Thabo Qalinge has rejected Nedbank’s offer to assist him in selling his house after struggling to service his bond.

Nedbank lawyers, Molefe Dlepu Incorporate, wrote a letter to Qalinge informing him that, as of May 1 this year, his bond account was in arrears of over R251 000 and advised him to pay and keep the account up to date.

 

Alternatively, the bank urged him to put his home on the market.

“The property is put on the market for 90 days. We accept the purchase price you have agreed to,” reads the letter.

However, Thabo rejected the offer and still failed to pay up the debt, which led to Nedbank’s move to sell the star’s property.

According to Sunday World, Nedbank loaned the former Orlando Pirates player over R2.5 million to purchase a house in the posh gated estate of Eye of Africa in Johannesburg South on April 14, 2022.

Qalinge was supposed to pay back the loan in regular monthly instalments of over R 20 000.

“In breach of the provisions of the bond as read with the loan agreement, the defendant failed to pay the monthly instalments on the due date and, as of May 1, 2024, was in arrears in the amount of R 251 541.85.

“In the premises, the defendant has become liable to the plaintiff for payment in the sum of R2 659 230.76 plus interest at the rate of 11.75% and has failed, refused, and/or neglected to pay, and which amount is now fully due, owing, and payable to the plaintiff,” read the papers.