Home Mortgages Types of Mortgage
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MORTGAGE LOANS


Buying or building a house is probably the biggest investment that you will ever make in your life.At ZNBS we realise this and have come up with solutions to help you achieve your dream.

The following are the different types of mortgage products:

OUTRIGHT PURCHASE

A loan for purchase of an existing property or properties.

CONSTRUCTION LOAN

A loan for construction purposes where one possesses a plot or has an incomplete structure and is looking to finish it.

HOME IMPROVEMENT LOAN

A loan for refurbishments, renovations and extensions to an existing property.

KEY FEATURES AND BENEFITS OF THE MORTGAGE

While competition tightens, our interest rates remain extremely competitive with very Flexible repayment periods of up to 15 years. We are a One stop shop (all services done in house) and one flat fee for arrangement, legal and valuation services. ZNBS will finance up to 75% of the property's assessed value.

WHAT DO YOU NEED TO GET A MORTGAGE

  • Introduction Letter From Current Employer which should clearly indicate whether you are employed on permanent or contract basis

  • Certified Photocopy Of either National Registration Card or valid Passport

  • One (1) Passport Size Photo

  • Copy of a Title Deed , Land Record Card or Occupancy License

  • Original Latest Payslip stamped and signed by Payroll Accountant

  • Latest Bank Statements for the Past (6)Six months (Original or certified copies)

  • Proof of residence i.e. Utility bill

  • Approved building plans to be submitted if constructing.

  • Schedule of works to be submitted for all borrowing except outright purchase

  • Proof of payment of rates and ground rent from the council and Ministry of Lands respectively (attach copy of latest receipt)

  • Copy of Contract to be attached if employed on contract.

  • Stage inspection fee of K500.00 within Lusaka CBD and Ndola, and K700.00 elsewhere to be paid for each site visit.

  • Valid Lease where rental income is declared

For Outright purchase

 

  • a) Copy of NRC of Vendor, b) Offer letter c) Contract of sale/Letter of sale

The following documents through the vendor's Lawyers will be required after approval of the loan:

  • Granted Consent to Assign

  • Property Transfer Tax Clearance Certificate

  • Duly Executed Assignment

  • Duly Executed Mortgage Deed

  • Original Certificate Of Title, Land Record Card or Occupancy License

Clients to open one of the two accounts below when the application reaches offer stage

Type of Account Minimum balance Maintenance fees

  • Mortgage Fixed deposit account K1,000.00 with no maintenance fees
  • Mortgage savings account K700.00 with maintenace fee of K22.00

Requirements for account opening

  • Introduction Letter From Current Employer

  • Photocopy Of National Registration Card ( Certified)

  • Two (2) Passport Size Photos

  • Utility bill

  • Hand written application letter

Note : Mortgage application form and CRB fees are not refundable. for details contact your nearest branch.