Product 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
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
- The product has the following features:
- Product tenor of 3 years
- 90% interest rate for individuals and 110% for companies
- 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
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