A property owned by former Economic Freedom Fighters MP Andile Mngxitama was auctioned off last month after he failed to pay nearly R1-million
The Black First, Land First (BLF) movement leader's houses, in Johannesburg, were sold by Nedbank after he failed to pay nearly R942658.14 plus interest, according to papers filed at the North Gauteng High Court in Pretoria by the bank.
In court papers, Nedbank said Mngxitama stopped servicing his loan in June 2013.
He was then served with summons demanding more than R61000 in arrears and the bank felt there was no reasonable prospect of Mngxitama paying the arrears even if he was given more time.
Mngxitama did not live on the properties, that include two dwellings, one with four bedrooms, two bathrooms, kitchen, lounge, dining room, while the other has three bedrooms, bathroom, lounge, dining room and kitchen.
The former EFF MP rented out the entire property, according to a neighbour, who asked not to be identified.
Nedbank borrowed Mngxitama R925016.02, which accumulated to nearly R1.9-million with interest, premiums, fees and other charges.
On Friday, Wendy Hodges of Bicarri Bollo Mariano Inc, the law firm representing Nedbank, confirmed that Mngxitama's house was sold on October 22, but could not say how much the property was sold for.
Mngxitama was expelled from the EFF in April after which he established BLF, which was active during university students' #FeesMustFall campaign.
Mngxitama, who earned about R989883 a year as an MP, had declared the properties in parliament's register of members' interests under "land and property".
A former neighbour until 2013 told Sowetan that there were no rooms available for renting for under R1000 a month.
In court papers, Nedbank's Bongani Gonyela said the bank demanded Mngxitama pay nearly R1-million including 8.35% interest from October 2012.
"The defendant (Mngxitama) has been in default of his obligations under the credit agreement for at least 20 business days," Gonyela said.
Mngxitama could not be reached for comment.
