The law В"MortgageВ" may be revised head of Realty Register Service
Some difficulties are experienced in issuing mortgage credits. Trend reports quoting Arif Garashov, head of Realty Register Service, that such difficulties, in particular, arise because people concerned in receiving mortgage credits cannot take them due to lack of realty.
Garashov said the population may take mortgage credits upon registering their realty by local agencies of Register Service instead of paying security.
The works are performed to solve this problem and the relevant revisions and amendment will be made in the law are due upon approval by the parliament.
Head of Register Service said also the main aim is to perform a uniform registration of all realty in the republic, including lands and realty located on them. This process already started on April 3.
Realty Register Service has 130bn manat in disposal, issued from the state budget. According to the presidents decree, the maximum amount for one borrower is 30k AZN. It is expected to issue up to 1,000 mortgage credits during 2006.