We all dream of owning our own homes. At Standard Chartered, we are committed to helping you turn that dream to reality. If you are over 21 years old, and are in full-time employment, come and talk to us about a mortgage solution to help you achieve your dream of home ownership.

  • Outright purchase of a house/ flat for residential purposes
  • Equity release: This means you can cash out up to 50% of the value of your existing property.
  • Balance transfer with or without Cash out: Allows you to transfer your mortgage to us and enjoy our competitive terms. You can also get the benefit of a cash-out depending on the value of your property

  • Higher amount of up to ZWL1,000,000.00

  • Longer loan tenure period of up to 20 years

  • Competitive Interest Rate of 25% (subject to macro-economic environment)

  • Minimum down payment of 30%

  • Only available for properties in Harare, Norton, Chitungwiza, Ruwa and Christon Bank

  • Zimbabwean citizens,
  • Non-resident citizens with salaries domiciled in Zimbabwe
  • Minimum age 21
  • Salaried customers meeting all the specified requirements
  • Employees and Directors of reputable companies
  • Professionals and Consultants who earn a regular monthly income and are purchasing a residential property for owner occupation
  • Completed and signed application form
  • Certified copies of last 3 month’s pay slips
  • Certified letter from employer stating terms of employment
  • Certified copy of ID / passport
  • Sale agreement
  • Certified copies of bank statements for 12 months
  • 3 colour passport-sized photos
  • Copy of title deed
  • For a mortgage transfer, mortgage statement for the last 12 months
  • Application fee ZWL100
  • Facility arrangement fee: 2.5%
  • Conveyancing fees ( approximately 1-6% of property value)
  • Bond registration (approximately 1-6% of loan amount)
  • Property insurance (approximately 0.1% of property value per annum)
  • Mortgage protection insurance (approximately 0.1% of the loan amount per month)
  • Valuation fees (approximately 1% of property value, depends on where property is located)
What is a mortgage?

A mortgage is a loan advanced to the customer by the bank towards the purchase or construction of a property. The customer provides the bank with his / her property as a security. At Standard Chartered Bank Zimbabwe, we are currently offering the mortgage facility for outright purchases, balance transfer and equity release.

Can I make lump sum payments into my loan account?

Yes. The Bank allows you to make lump sum payments into your mortgage loan account. You however need to advise us whether you would like the amount to be applied as a capital repayment, intended to reduce the monthly balance or the loan tenure.

What bank charges apply when taking out a Mortgage loan?

There is an arrangement fee that the customer is expected to pay upon acceptance of the
loan. It is 2.5% of the loan amount, minimum $150.

What are the charges associated with a Mortgage loan?
  • Valuation fees: This is paid to the valuers for the valuation of the property and is based on the value of the property.
  • Legal Fees: This is paid to the advocates for the preparation and registration of the security documents for the loan. It is based on the loan amount.
  • Stamp Duty: This is paid to the commissioner of lands for the registration of the transfer on the ownership of title documents on the property. It is based on the price of the property or the value of the property as determined by the Government Valuer.
  • Damage to property: This is insurance cover taken on the property to cover against fire. Premiums are paid annually to the Insurance company providing the cover and it is based on the value of the property.
  • Life insurance: This is insurance cover taken to cover customer in the event of death or permanent disability while servicing the loan. It is paid monthly and is based on the outstanding loan balance.
If I have a life insurance with another reputable insurance company do I have to use the Bank’s Insurance Provider?

No, as a customer, you have the option to choose an Insurance Provider listed on our panel of approved Insurers. Proof of cover will need to be sent to the Bank annually confirming that the policy is still active.

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Please note that this hyperlink will bring to you to another website on the Internet, which is operated by InTouch, an independent company appointed by the Bank to support its Speaking Up programme. Please be mindful that when you click on the link and open a new window in your browser, you will be subject to the additional terms of use of the website that you are going to visit.

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