How to get a mortgage with Kesto

13 November 2020

Many Zimbabweans in the diaspora have a desire to invest and create a financial base back home through reputable and convenient channels. ZB bank offers a wide range of services that suit banking needs of its customers who are living and working abroad.

Kesto sees mortgages as loan taken out to buy property or land, the loan is secured against the value of your home until it's paid off.

Kesto mortgages makes home ownership affordable and simple as Kesto will do run<link to kesto mortgages> around for you to make sure you buy your dream home. Interests’ rates on these mortgages are lower than for other types of borrowing and they are secured.

Kesto offers mortgages for:

1. Home Improvement Mortgage 
With Kesto home improvement mortgage mortgage you can borrow money to bring more life to your house and turn it into a house that you will always look forward to coming to with flexible repayments and excellent customer service.
Home building mortgage.

2. Home Building Mortgage
With Kesto building mortgage you can complete your building with peace of mind as we give you all you need to build your dream home with flexible payments.

3. Home Purchase Mortgage
Kesto home purchase mortgage will assists you with all the financial requirements you need to buy your dream home and Kesto will do the run around on your behalf to make sure you get your dream home.

Types of mortgages in Zimbabwe

There are many types of mortgages in Zimbabwe which includes conventional-insured mortgages, government-insured mortgages, fixed rate mortgages, adjustable rate mortgages etc.

Fixed rate mortgage
They keep the same interests rate over the life span of the loan. These loans typically come in terms of 15 years, 20 years or 30 years.

Adjustable-rate mortgages 
These are loans with a fluctuating interests rates that can go up or down with the market conditions.

Traditional mortgage
This is a mortgage offered for outright purchase of an existing fixed house in which property is offered as security over the bond.

Key terms to know

Tenure - refers to the various ways that you can own a property. It can be freehold or leasehold.

Home Equity - the difference between the current value of the house and the amount of money owed on the mortgage.

How to choose a mortgage in 5 steps with Kesto
1) Research on what size is suitable for you and your specific needs – here you identify areas of your choice, consider factors such as accessibility to public transport etc.
2) Determine how much you can actually afford for your ideal home –here you consider additional costs such as legal fees, qualifying amounts and age stipulation 
3) Visit Kesto<link to kesto page> to find out how much credit you qualify to buy or build your new home.
4) Seek assistance from a reputable Estate agent.
5) Complete the mortgage application form and submit it with all the requirements  which includes :

  • signed copy of dated Agreement of sale between the seller and buyer
  • copy of tittle deed
  • certified proof of identity
  • proof of deposit in the form of a receipt from registered Estate agent or bank statement from the clients account
  • proof of payment of application fees   

For more information on how you can obtain your dream home, please click here.

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