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Mortgage Loans

Mortgage Loan Requirements

  • The following documents should be submitted:
  • Original Agreement of sale between the seller of the property and you, the purchaser
  • Copy of the title deeds for the property being bought
  • Current payslips for the past three months
  • Current 3 months Bank Statements where salary is coming through
  • Loan statements (if individual is borrowed elsewhere)
  • Copy of ID ,certified
  • 2 passport size photos
  • Proof of residence in form of Utility bill or letter from employer confirming residence
  • Proof of employment e. g Contract of employment or confirmation letter of employment stating retirement age
  • Copy of Marriage certificate (for joint applications)
  • Approved building plan (for building loans)
  • Bill of Quantities by a registered quantity surveyor (for building loans) -quotations required on drawdown of facility.
  • Certificate of compliance from Council, Verification of title survey certificate from Surveyor General and site plan (where title deed is not yet available)
  • Council stage approval form (for building loans where construction has commenced)

Mortgage Calculator               Download Application Form

Special Requirements For Diaspora Clients

In addition to the mortgage requirements stated above, a diaspora client should also provide the following:

  • Special Power of Attorney for person signing the documents on behalf of applicant and their Know Your Customer (ID and proof of residence and passport size photo) documents.
  • Credit reference report ,e.g. Experian ,Equifax, Trans Union  Credit Reports
  • A notarized affidavit signed by a notary public confirming identity, residence and work status.
  • Letter from employer confirming salary, retirement age and contract of employment 
  • Work permit (where applicable)
  • Residence permit (where applicable)
  • A local address to which Homelink (Pvt) Ltd will serve documents
  • Certified copy of Zimbabwe Passport
  • Current proof of residence in the diaspora (less than 3 months)

NB: For joint applications both applicants should furnish the same personal documents

Mortgage Calculator               Download Application Form

Additional Requirements (Where Applicable)

Ordinary Mortgage loans for properties in company names: 

  1. Board Resolution (on company letter head) to sell the property signed by at least 2 directors. Resolution should state the name of person authorized to sign on behalf of the company.
  2. Certified copy of Certificate of Incorporation
  3. Certified copy of CR14
  4. Certified copy of CR6
  5. Memorandum and articles of association
  6. Certified copy of national ID for the person who is representing the company.

Ordinary Mortgage loans for properties in the name of a Trust

  1. Certified copy of the Trust Deed
  2. Trustees Resolution to sell the property or to buy. Resolution should state the name of person authorized to sign on behalf of the Trust.

Purchase of property owned by a deceased 

  1. Certified copy of the letter of administration issued by the High Court should be submitted.
  2. Certified copy of the letter from the High Court authorizing the sale of the property making reference to Section 120 of the Administration of Estates Act (Chapter 6:01).
  3. Certified copy of the Death Certificate.

**Certified Copy of the Special Power of attorney should be submitted for all loans where either the borrower or the seller is being represented by a 3rd party.

Homelink will then send the property you intend to buy for valuation after submission of the above documents & you pay for the valuation fees (range from $300 to -/+ $450)

Once your application is successful you need to pay the following (within 2 weeks of our offer letter):

  • 0%-30% deposit of the property price
  • 2% of the loan as processing fee
  • 1% of loan amount as supervision fee (for building loans)
  • Annual homeowners 0.12% of property replacement value and mortgage life protection 0.45% of loan balance
  • Transfer and bond fees, which are approximately 11% - 13% of the value of the property.

Loan Tenure is: 15 years; Interest rate: 11.8% p.a. (Local) ,10% p.a. (Diaspora)