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