CBZ Offers Diaspora Mortgages. (PDF Download)

We encountered some information on Twitter about “flexible and affordable CBZ Diaspora Mortgages” so we got in touch with the bank for more information. 

Here’s the response we got:

Housing schemes currently available for sale:-

• Nehosho stands/houses – Gweru US$34/m² before vat average size 150m²
• Mtausi Park – Gweru US$13/m² before vat average size 2040m² (cash price discounted @ US$11/m²)
• Mbizo 21 – Kwekwe US$27/m² before vat average size 320m²

Value Added Tax is 14.5%

The bank is also giving mortgage loan to clients who earn in foreign currency. Below are the terms and conditions:-

• Tenure : 5 years
• Interest rate : 12-14% per annum
• Administration fees : 1% per annum on reducing balance
• Establishment fee : 3% once off
• Application fees : USD$100.00
• Deposit : 25% of value of property / 10% on Bank projects

Maximum tenure for all loans is now at 3 years

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The bank also sent the following PDF which has additional information regarding the mortgages:

CBZ Bank Mortgage Finance Presentation 2023.pdf

CBZ Bank is a subsidiary of the listed financial services group CBZ Holdings. To contact the bank regarding these mortgages, use diasporamortgages@cbz.co.zw

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A note from Pindula. Are you in the diaspora? Does this sound like a good deal or not? Do you know other diaspora-targeted property or mortgage products that we could share with the Pindula community? Please comment below or send us an email on hello@pindula.com