Ordinary Mortgage- Individuals and Company
Product Features
The ordinary mortgage loan is designed to assist customers to access mortgage loans for purchase or construction of residential or commercial property.The loan can be accessed in different phases for construction until the property is completed.
- Product tenor of 5 years
- 18% interest rate for individuals
- 25% minimum deposit
- Mortgage Establishment fees 1.5%, Valuation fees 1%
- Security- First mortgage bond IFO FBC Building Society
- Traceable proof of income
- Available to clients in Zimbabwe and Zimbabweans living abroad
Application Requirements
- Pay slip/Proof of income
- Supporting letter from employer (stamped)
- Completion of all relevant sections on mortgage loan application
- Certified copy ID (2 copies)
- Proof of residence (2 copies)
- 6 months’ bank statements
- Work Permit/ Residents permit/Visa (Zimbabweans Residing outside the country)
- 2 passport sized photos
- Details of current and running loans with other banks and supporting documentation thereof where applicable
- Approved plan for construction
- Quotations for home improvement
- Copy of title teed
