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CBZ Private Mortgage Finance Division offers facilities to Private individuals for the purposes of:-

  • Building Finance
  • Purchase
  • Property improvements

PURCHASE REQUIREMENTS

  • Proof of permanent employment (pay slip & letter from employer) OR other acceptable constant income
  • Certified copy of ID
  • 6 months’ CBZ Bank statements showing income
  • Copy of title deed upon application
  • Copy of approved plan
  • Agreement of sale
  • $50.00 application fee
  • 0.5% of loan amount- valuation fee
  • 1.5% of loan amount establishment fee
  • 1% admin fee on loan on a reducing balance basis
  • Loan up to 75% of purchase price based on one’s income
  • Interest rate of 12% per annum over a maximum period of 10 years.
  • Fully completed Mortgage Application Form

BUILDING FINANCE REQUIREMENTS

  • Proof of permanent employment (pay slip & letter from employer) OR other acceptable constant income
  • Certified copy of ID
  • 6 months CBZ Bank statements showing income
  • Copy of title deed upon application
  • Copy of approved plan
  • $50.00 application fee
  • 0.5% of loan amount -valuation fee
  • 1.5% of loan amount establishment fee
  • 1% admin fee on loan on a reducing balance basis
  • Interest rate of 12% per annum over a maximum period of 10 years.
  • Quotations for work to be done/ Bill of quantity
  • Fully completed Mortgage Application Form

PURCHASE OF RESIDENTIAL STAND

  • Proof of permanent employment (pay slip & letter from employer) OR other acceptable constant income
  • Certified copy of ID
  • 6 months CBZ Bank statements showing income
  • Copy of title deed upon application
  • Agreement of sale
  • $50.00 application fee
  • 0.5% of loan amount -valuation fee
  • 1.5% of loan amount establishment fee
  • 1% admin fee on loan on a reducing balance basis
  • Loan up to 75% of purchase price based on one’s income
  • Interest rate of 12% per annum over a maximum period of 10 years.
  • Fully completed Mortgage Application Form

PROPERTY IMPROVEMENTS REQUIREMENTS

  • Proof of permanent employment (pay slip & letter from employer) OR other acceptable constant income
  • Certified copy of ID
  • 6 months CBZ Bank statements showing income
  • Copy of title deed upon application
  • $50.00 application fee
  • 0.5% of loan amount- valuation fee
  • 1.5% of loan amount establishment fee
  • 1% admin fee on loan on a reducing balance basis
  • Interest rate of 12% per annum over a maximum period of 10years.
  • Quotations for work to be done/ Bill of quantity
  • Fully completed Mortgage Application Form

UPFRONT COSTS

The borrower should have funds available to meet, Transfer, Bond registration, Valuation fees and application fees

Security

It is a condition of this facility that the following security be held.

  • Registration of a first mortgage bond over the urban immovable property that is being purchased or renovated.
  • All properties mortgaged by CBZ BANK, as security for the loans shall be insured through CBZ Insurance Company.

ADDITIONAL REQUIREMENTS FOR DIASPORA CLIENTS

  • A CBZ Savings account
  • Fully completed Mortgage Application Form
  • Letter confirming employment
  • Work permit or residence permit
  • Power of Attorney
  • Six months bank statements showing income deposits
  • Three months pay slips

Forex Rates

Last Updated: 19 April 2018
  Base USD 1.00
  AUD 1.2822
  BWP 9.5694
  CNY 6.2683
  EUR 0.8078
  GBP 0.7042
  ZAR 11.93
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