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Outright Purchase Mortgage

Home Mortgages Outright Purchase Mortgage
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Are you thinking of buying a home? If yes, then you are at the right place. Homelink provides mortgage finance to help you make your dream home a reality! We have the following Outright Purchase Mortgage options available for you:

  • Open Market - where you buy a residential property whether a vacant stand or completed house from the real estate market.
  • Homelink Stock - where you buy from properties developed by Homelink.

Requirements - Open Market Purchase

The following documents should be submitted:

Original Agreement of sale between the seller of the property and the purchaser. Copy of the title deeds for the property being bought Proof of income in USD (if it is a USD mortgage loan)/ letter from employer confirming monthly net income and how it is paid Deposit Current 3 months Bank Statements where USD income is being deposited Loan statements (if the individual is borrowed elsewhere) Copy of certified ID 2 passport-size photos Current Proof of residence Confirmation letter of employment from employer highlighting retirement age

Additional requirements

Ordinary Mortgage loans for properties in company names – to be obtained from the Seller

i. Board Resolution (on company letterhead) to sell the property signed by at least 2 directors. The resolution should state the name of the person authorized to sign on behalf of the company. ii. Certified copy of Certificate of Incorporation iii. Certified copy of CR14 iv. Certified copy of CR6 v. Memorandum and articles of association vi. Certified copy of national ID for the person representing the Company

**Certified Copy of the Special Power of attorney should be submitted for all loans where either the borrower or the seller is being represented by a 3rd party.

Homelink will send the property intended to be bought for valuation after submission of the above documents & applicants pays for the valuation fees. Once the application is successful, applicants need to pay the following (within 2 weeks of our offer letter): Minimum Deposit of 25% of the purchase price. 2% of the loan amount as processing fee Mortgage application fee Annual Insurance Transfer fees (between 6% to 7% of the value of the property) Bond fees (approximately 5% of the value of the property or as invoiced by the lawyers)

Requirements – Purchasing Homelink Stock

The following documents should be submitted for Homelink stock mortgage applications:

Current payslips for the past three months Current 3 months Bank Statements where salary/ income is coming through Proof of deposit Latest loan statements (if the individual is borrowed elsewhere) Certified Copy of ID 2 passport-size photos Proof of residence in the form of a Utility bill or a letter from the employer confirming residence Confirmation letter of employment which also state the retirement age Copy of Marriage certificate / Affidavit (for joint applications)

Special additional requirements for diaspora clients

In addition to the mortgage requirements stated above, a diaspora client should also provide the following:

Special Power of Attorney for the person signing documents on behalf of the applicant(s) and their certified copy of ID, proof of residence plus passport size photo Credit reference report e.g. Experian, Equifax, Trans Union Credit Reports A notarized affidavit signed by a notary public confirming identity, residence and work status. Work permit (where applicable) Residence permit (where applicable) A local address to which Homelink (Pvt) Ltd will serve documents Certified copy of Zimbabwean Passport Proof of residence in the diaspora (less than 3 months)
NB: For joint applications, both applicants should furnish the same personal documents
Once your application is successful you need to pay the following within 2 weeks of our offer letter:
Minimum deposit which differs from the housing project. Agreement of sale fees Application fees 2% of the loan as a processing fee Annual Insurance
If you have any questions about our outright purchase mortgage services or would like to learn more about your financing options, please do not hesitate to contact us. Our team is always available to answer your questions and provide you with the support you need to make informed decisions about financing your property.
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helpdesk @homelink.co.zw

+263 086 77006071

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