The facility called “Diaspora Home Loans” is part of a wider mortgage finance plan by the leading financial services institution whose goal is to ensure that Zimbabweans at home and abroad enjoy the basic human right of having a roof over their heads.
Stanbic Bank Zimbabwe Head of Client Solutions, Tich Zuze said the leading financial services institution is committed to contributing towards ensuring that Zimbabweans in the diaspora build or purchase a house back home through its Diaspora Home Loans facility.
“We have established a well thought out Diaspora Home Loans facility through which Zimbabweans living abroad can acquire completed houses, construct new properties, undertake property improvements and equity release,” said Zuze.
He said the Diaspora Home Loans package has flexible terms and conditions and is backed up by Stanbic’s Home Loans desk which is available to attend to them in need.
“Stanbic is aware that a house is one of the most important investments anyone can make and the Diaspora Home Loans facility plays a pivotal role in ensuring Zimbabweans in the diaspora enjoy a sense of belonging and achievement in the knowledge that they have a house back home,” said Zuze.
For one to be eligible for the Diaspora Home Loans facility they need to provide the usual Know Your Clients (KYC) documents together with proof that one has a secure job in the diaspora such as a stamped letter of introduction from employer- confirming salary, retirement age, and contract of employment which should be long enough to cover loan term and certified 6 months bank statements through which salary is paid.
The applicant of the diaspora home loan would also need to provide a local address to which Stanbic Bank will serve documents and or notices and service of process when need arise.
Other documents include a completed Home Loan application form and having a minimum of 24 months duration of employment with the same employer while proof of extra income is an advantage. The comprehensive list of the requirements are accessible via the bank’s website and one can visit any Stanbic branch to get further assistance.