DIASPORA MORTGAGES

Frequently Asked Questions

1. How do I repay the mortgage?

Mortgage repayments will be sent through money transfer agent World Remit.

2. How long does it take to approve?

It will take 21 days to approve a mortgage from the receipt of a fully compliant application form

3. How do I apply for a mortgage?

  • You need to pay a non-refundable application fee US$100.00 or equivalent
  • Submit a completed mortgage application form and the relevant documentation

    • 4. What happens when my property is damaged?

    The good news is your property is insured against damages through a Home Owners Comprehensive Insurance Scheme

    5. Do you require a financial contribution from me?

    Yes, loan application requires the following contributions from you as a borrower

  • A minimum 25% cash deposit as commitment / contribution
  • An estimated 10% to 13% of purchase price, Legal fees.

    • 6. What is the minimum and maximum loan amount I can access?

    You can access a minimum loan amount of USD10,000 and maximum of USD200,000

    7. What is the maximum period I can qualify for?

    If you are a permanent resident, you can qualify for a maximum tenure of 25 years. Your maximum qualification period is determined by your tenure of work.

    8. How does one open an account whilst in the diaspora?

  • STEP 1-The applicant must register to access fill all the forms
  • STEP 2-Applicant must complete the full set of forms and return the original forms by courier accompanied by a Notarized copy of valid passport; Stamped bank reference on the bank letterhead; Proof of residence in the country of residence; Credit reference report; One recent passport size photograph (3 months); Proof of income (Pay slip or bank statement); Completed Account Opening Form; Completed Mandate Card form; General Power of Attorney plus KYC documentation for the appointee; Completed Internet Banking Form (Where applicable)
  • STEP 3-Application forms are couriered to NBS (an account will be opened within hours after receipt of the required documents)
  • STEP 4 - Once the account is opened, a welcome letter is sent to the customer advising of their account number by email.
  • STEP 5 - Customer makes the initial deposit within 15 days of account opening. Initial Deposit can be done through telegraphic transfer or send somebody who is in Zimbabwe to make the payment.

    • 9. How can one open and access a diaspora mortgage?

    The applicant must have an active bank account from which instalments will be deducted.

    10. Who qualifies for a diaspora mortgage?

    Any Zimbabwean citizen who is legally resident and gainfully employed outside of Zimbabwe.

    FAQ