Zimbabwe NMB Bank Offers Mortgage Loans for Property Purchases and Improvements

NMB Bank offers mortgage loans with a repayment period of up to 15 years for the purchase of stands, houses, home extensions and improvements.
Home improvements may include but are not limited to boreholes, driveways, swimming pools, perimeter walls, electric gates, solar lighting and heating systems.
To be eligible for a mortgage loan, it is necessary to raise a deposit of 25 percent of the purchase price and one’s salary must be received through NMB Bank. No deposit is required for home improvement loans. An NMB Dream House Savings account is offered to those intent on saving towards the deposit.
NMB also offers mortgage finance under the employer assisted housing schemes, where advances are given to employees against employer investments. Loans under this scheme are offered at significantly lower interest rates. In addition, no initial deposit is required.
NMB Bank has also introduced a property re-mortgage product (Equity Release), which enables a person with a fully paid for residential property to apply for a loan leveraged against the value of that property. The loan may be used for investment purposes and other related business ventures.
Loan application forms, which are available from any NMB Bank branch or from the NMB website www.nmbz.co.zw , can be submitted together with the required documents to the nearest NMB branch.business news