CBZ BANK HOUSING PROJECTS

PRESENTATION -

INTRODUCTION

CBZ BANK in its thrust to deliver houses/stands has embarked on a number of projects that are as follow:-Nehosho low cost housing scheme (Gweru)Mtausi Park (Gweru)Mbizo 21 (Kwekwe)

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NEHOSHO HOUSING SCHEME

The project is located about 13km from Gweru citycentre and 3km from Midlands State University withstand sizes ranging from 126m2 to 483m2.Nehosho housing project offers three types of housesbeing; 2 roomed unit 3 roomed unit 4 roomed unit

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NEHOSHO HOUSING SCHEME

Purchasing terms is either on cash basis or onmortgage where a loan is given for a maximum periodof 25 years after having paid deposit of 25% and 15%VAT. Qualifying clients can apply for a 100% mortgageloan. Stands are also being sold at $34/m² exclusive ofVAT where the Bank is offering loans payable over amaximum period of 10 years.The Nehosho housing project is open to allZimbabwean citizens regardless of their location aslong as they register with the Gweru City CouncilHousing Waiting list.

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TWO ROOMED HOUSING UNIT

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THREE ROOMED HOUSING UNIT

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FOUR ROOMED HOUSING UNIT

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SELLING PRICES (100% Mortgage loans inclusive of VAT)

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2 roomed unit 3 roomed unit 4 roomed unit

Selling prices inclusive of VAT

$17,449.40 $22,575.82 $27,636.92

Deposit + VAT $0.00 $0.00 $0.00

Loan amount $17,449.40 $22,575.82 $27,636.92

Monthly repayments (10 years) @12% p.a

$296.20 $383.22 $469.14

Monthly repayments (15 years) @12% p.a

$255.20 $330.17 $404.19

Monthly repayments (20 years) @12% p.a

$237.92 $307.82 $376.83

Monthly repayments (25 years@12% p.a

$229.55 $296.98 $363.56

SELLING PRICES FOR STANDS (100% Mortgage loans inclusive of VAT)

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Stand size

(m2)

Purchase Price

excl VAT

0%

DepositVAT 15% Loan Amount (100%)

Monthly Repayment

over 10 years @ 12%

p.a.

Required Salary

144 $4,896.00 - $734.40 $5,630.40 $94.87 $300.00

180 $6,120.00 - $918.00 $7,038.00 $118.59 $320.00

200 $6,800.00 - $1,020.00 $7,820.00 $131.77 $350.00

220 $7,480.00 - $1,122.00 $8,602.00 $144.94 $380.00

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These are low density residential stands whose sizes range between 1800m² to 3600m². These stands are located 7km from Gweru’s Central Business District along Gweru - Shurugwi Road.Payment detailsThe stands are being sold at the following prices:-$11/m2 for cash price exclusive of 15% VAT. A prospective client can pay the cash price up to a maximum of 12 months.$13/m2 as a Mortgage Loan product exclusive of VAT. The Bank can offer 100% as a loan for a maximum period of 25 years.

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Stand

Size

(m²)

Cash Price

($11/m²)

Home Loan

Price ($13/m²)

Deposit

required

(0%)

15% VAT Loan

amount

(100%)

Monthly

Repayment

1800 $19,800 $23,400 - $2,970 $26,370.00 $343.60

2000 $22,000 $26,000 - $3,300 $29,300.00 $381.78

2500 $27,500 $32,500 - $4,125 $36,625.00 $477.22

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The stands are located 6km from Kwekwe Central Business District

and they vary in size ranging from 200m2 to 300m2.

Payment details

The stands are being sold at the following prices:-

$27/m2 for cash price exclusive of 15% VAT.

$27/m2 as a Mortgage Loan product exclusive of VAT. One has to

put down a 15% vat payment and the loan of 100% will be given

for a maximum period of 10 years. One can also access 100% loan

inclusive of VAT.

Prospective buyers should ensure they are registered on the City of

Kwekwe housing waiting list.

Certificate of compliance was issued by Kwekwe City Council.

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Stand Size (m2)

Cash/ Home Loan Price (27/m2)

Deposit Required (0%)

15% VAT Loan Amount (100% incl VAT)

Monthly Repayment (10years)

288m² $7,776.00 $0.00 $1,166.40 $8,942.40 $150.68

300m² $8,100.00 $0.00 $1,215.00 $9,315.00 $156.96

REQUIREMENTS (INDIVIDUALS)

– Proof of income

– 6 months bank statements

– Proof of deposit

– Application fees $25.00

– Opening of a CBZ account if not account holder/salary account

– Confirmation letter of employment and that salary would come through CBZ Bank.

– Proof of residents

– Copy of ID.

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REQUIREMENTS (CORPORATES)

Proof of registration (certificate of incorporation, memorandum and articles of association, CR 14)

Proof of income-Audited financial statements, actual and projected cash flows, management accounts, schedule of other bank facilities, debtors’ age analysis, tax clearance.

Company profile

Resolution to borrow

Application fees

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SECURITY

• It is a condition of this facility that the following security be held:-

• Registration of a first mortgage bond over the Nehosho property that is being purchased.

• All properties mortgaged by CBZ Bank as security for the loans shall be insured through CBZ Insurance and CBZ Life Assurance companies.

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ADDITIONAL REQUIREMENTS FOR DIASPORA CLIENTS

• Work permit or residence permit

• Power of attorney

• Three months payslips

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WHY CHOOSE CBZ BANK

CBZ Bank is the banking Partner For Success. Our award winning expertise and tailored financial solutions options will optimize your life and business.

• Wide geographical footprint.

• Diverse delivery channels for your convenience

• One-stop shop financial service provision.

• Tailor-made solutions to suit your needs

• We have withstood the test of time and are your ideal Partners for Success

CONTACT DETAILS

CBZ Place, No. 7 Selous Avenue, Harare, Zimbabwe

Tel: (04) 705001-9, Fax: (04) 759387, 755136

E-mail: info@cbz.co.zw, Website: www.cbz.co.zw

Or contact our sales team:

Tapiwa Munemo 0772 428 412

Kudakwashe Mandaza 0773 288 685

James Gutu 0772 998 839

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