{"id":116313,"date":"2026-04-08T19:25:35","date_gmt":"2026-04-08T17:25:35","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans"},"modified":"2026-04-08T21:48:31","modified_gmt":"2026-04-08T19:48:31","slug":"westprop-plans-mortgage-bank-to-unlock-30-year-home-loans","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans","title":{"rendered":"WestProp plans mortgage bank to unlock 30-year home loans"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>Property developer WestProp Holdings Limited is set to establish a mortgage bank to support long-term housing finance and accelerate its property developments, including the multi-million-dollar Chivhu Eco-City.<\/p>\n

The move comes as the developer pushes a new housing finance model anchored on 30-year mortgages for the Chivhu project, in a first in the local market, as most local banks offer far shorter loan tenures that make home ownership difficult for many Zimbabweans.<\/p>\n

The proposed mortgage bank would mobilise long-term capital to finance home purchases, allowing buyers to spread payments over three decades while helping the developer scale up large housing projects, WestProp chief executive officer Ken Sharpe said.<\/p>\n

This comes as the long-tenure mortgage model has already generated thousands of inquiries since the Chivhu project was announced.<\/p>\n

\u201cThis is the first time in Zimbabwe in nearly 20 years that anyone is offering mortgages of up to 30 years,\u201d Sharpe said. \u201cIt is a unique financing model because people can pay under US$300 a month and buy property over 30 years.\u201d<\/p>\n

To support the model, the developer said it plans to create its own mortgage financing structure.<\/p>\n

\u201cWe have to do it internally. It\u2019s our own mortgages. We are opening a mortgage bank this year. The board has agreed to establish a mortgage bank in Zimbabwe,\u201d Sharpe said.<\/p>\n

The planned institution will require significant capital to sustain long-term lending, with WestProp targeting an initial capital raise of US$1 billion.<\/p>\n

\u201cThere are indicative possibilities of US$200 million and US$100 million from two parties,\u201d Sharpe said, adding that a team led by the company\u2019s chairperson, Michael Louis, is in Washington, D.C. to meet potential funders<\/p>\n

He said the idea to expand mortgage financing emerged from the company\u2019s experience with Pomona City, where it introduced 10-year mortgages to make property purchases more accessible.<\/p>\n

\u201cWhen we started Pomona City, we offered 10-year mortgages because we felt that was what the market needed,\u201d Sharpe said.<\/p>\n

The model proved successful and WestProp has a mortgage book of about US$30 million, he said, highlighting the strong demand for long-term housing finance.<\/p>\n

\u201cThe problem the banks have is long-term money. As a developer, we realised the mortgage product is needed in Zimbabwe,\u201d the property magnate said.<\/p>\n

Sharpe said unlocking mortgage financing could significantly stimulate the economy.<\/p>\n

The company estimates the country has over US$100 billion worth of real estate with title deeds, suggesting that unlocking just 20% \u2014 about US$20 billion \u2014 through mortgages could significantly boost economic activity.<\/p>\n

\u201cFor every dollar of mortgages, it creates about US$3 of economic activity,\u201d Sharpe said.<\/p>\n

\u201cIf Zimbabwe unlocks US$20 billion in mortgages, the economy could accelerate progress toward becoming an upper-middle-income economy by 2030.\u201d<\/p>\n

However, Sharpe cautioned that the success of long-term mortgages depends on a stable currency and policy certainty.<\/p>\n

\u201cTo do this, we need to guarantee the continued use of the US dollar,\u201d he said.<\/p>\n

\u201cThe statutory instrument restricting the currency should be removed. The sooner it is lifted, the more confidence lenders will have to offer 30-year financing in Zimbabwe.\u201d<\/p>\n

For More News And Analysis About Zimbabwe<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Property developer WestProp Holdings Limited is set to establish a mortgage bank to support long-term housing finance and accelerate its property developments, including the multi-million-dollar Chivhu Eco-City. The move comes as the developer pushes a new housing finance model anchored on 30-year mortgages for the Chivhu project, in a first in the […]<\/p>\n","protected":false},"author":84,"featured_media":116312,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[19],"class_list":["post-116313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-zimbabwe"],"yoast_head":"\nWestProp plans mortgage bank to unlock 30-year home loans - zimbabwe<\/title>\n<meta name=\"description\" content=\"Property developer WestProp Holdings Limited is set to establish a mortgage bank to support long-term housing finance an ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WestProp plans mortgage bank to unlock 30-year home loans\" \/>\n<meta property=\"og:description\" content=\"Property developer WestProp Holdings Limited is set to establish a mortgage bank to support long-term housing finance an ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-08T17:25:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-08T19:48:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2026\/04\/sm_1775677489.112479.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"WestProp plans mortgage bank to unlock 30-year home loans\",\"datePublished\":\"2026-04-08T17:25:35+00:00\",\"dateModified\":\"2026-04-08T19:48:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans\"},\"wordCount\":519,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2026\/04\/sm_1775677489.112479.jpg\",\"keywords\":[\"Zimbabwe\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans\",\"name\":\"WestProp plans mortgage bank to unlock 30-year home loans - zimbabwe\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2026\/04\/sm_1775677489.112479.jpg\",\"datePublished\":\"2026-04-08T17:25:35+00:00\",\"dateModified\":\"2026-04-08T19:48:31+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"Property developer WestProp Holdings Limited is set to establish a mortgage bank to support long-term housing finance an ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2026\/04\/sm_1775677489.112479.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2026\/04\/sm_1775677489.112479.jpg\",\"width\":1280,\"height\":720,\"caption\":\"WestProp plans mortgage bank to unlock 30-year home loans\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/zimbabwe\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"WestProp plans mortgage bank to unlock 30-year home loans\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#website\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/\",\"name\":\"zimbabwe\",\"description\":\"\u0623\u062e\u0628\u0627\u0631 \u064a\u0648\u0645\u064a\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/zimbabwe\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"WestProp plans mortgage bank to unlock 30-year home loans - zimbabwe","description":"Property developer WestProp Holdings Limited is set to establish a mortgage bank to support long-term housing finance an ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans","og_locale":"en_US","og_type":"article","og_title":"WestProp plans mortgage bank to unlock 30-year home loans","og_description":"Property developer WestProp Holdings Limited is set to establish a mortgage bank to support long-term housing finance an ...","og_url":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans","og_site_name":"zimbabwe","article_published_time":"2026-04-08T17:25:35+00:00","article_modified_time":"2026-04-08T19:48:31+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2026\/04\/sm_1775677489.112479.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"WestProp plans mortgage bank to unlock 30-year home loans","datePublished":"2026-04-08T17:25:35+00:00","dateModified":"2026-04-08T19:48:31+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans"},"wordCount":519,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2026\/04\/sm_1775677489.112479.jpg","keywords":["Zimbabwe"],"articleSection":["all news","Economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans","url":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans","name":"WestProp plans mortgage bank to unlock 30-year home loans - zimbabwe","isPartOf":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2026\/04\/sm_1775677489.112479.jpg","datePublished":"2026-04-08T17:25:35+00:00","dateModified":"2026-04-08T19:48:31+00:00","author":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"Property developer WestProp Holdings Limited is set to establish a mortgage bank to support long-term housing finance an ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#primaryimage","url":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2026\/04\/sm_1775677489.112479.jpg","contentUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2026\/04\/sm_1775677489.112479.jpg","width":1280,"height":720,"caption":"WestProp plans mortgage bank to unlock 30-year home loans"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/westprop-plans-mortgage-bank-to-unlock-30-year-home-loans#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/zimbabwe\/"},{"@type":"ListItem","position":2,"name":"WestProp plans mortgage bank to unlock 30-year home loans"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#website","url":"https:\/\/www.africa-press.net\/zimbabwe\/","name":"zimbabwe","description":"\u0623\u062e\u0628\u0627\u0631 \u064a\u0648\u0645\u064a\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/zimbabwe\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren"}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts\/116313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/comments?post=116313"}],"version-history":[{"count":1,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts\/116313\/revisions"}],"predecessor-version":[{"id":116331,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts\/116313\/revisions\/116331"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/media\/116312"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/media?parent=116313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/categories?post=116313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/tags?post=116313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}