Azerbaijan, Baku, March 3 / Trend /
In February, the Azerbaijan Mortgage Fund (AMF) under the Central Bank granted loans worth 6 million manat to the Azerbaijani citizens. In January, it issued loans worth 4.2 million manat.
The maximum sum of common mortgage loans in Azerbaijan amounted to 50,000 manat under 8 percent per year for the term of 25 years, social mortgage to 35,000 manat under a 4 percent per year for 30 years. Initial payment for common and lax loans is 15 percent.
The 2010 state budget will provide 14 million manat for issuance of mortgage lending.
In addition, the mortgage fund allocates bonds, issued in the amount of 75 million manat, nine million of which have already placed.
Based on AMF's data, 17.4 manat mortgage loans fells per capita in Azerbaijan compared tom 17.05 manat in 2009, 7.34 manat - in 2008, 5.28 manat - in 2007 and 0.2 manat- in 2006.
It is planned to keep the current dynamics of the population's demand in mortgage lending in 2010.
The total volume of mortgage lending on AMF standards (since March 2006) reached 162 million manat. The fund issued mortgages worth 152 million manat allowing to fund 3,800 mortgages from 2006 to December 2009.
March 3, the official exchange rate is 0.8034 manat to $2.
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