Credit Committee with CB UniBank has approved the issue of the first mortgage credit amounting AZN 25,900 to mortgage borrower for 15 years at 12% annual interest, Trend reports with reference to the banks release.
"Mortgaging today is one of the most demanded services in credit sphere. In this respect, approval of mortgage credit issue is the first step on the way of UniBanks credit policy", - said Faig Zeynalov, Retail services Director, UniBank.
According to the procedures of Mortgage Fund, represented by UniBank, each adult citizen of Azerbaijan is eligible for mortgage credit unless his age exceeds the pension limit upon the expiry of credit period. Mortgage credit period set by Mortgage Fund varies from 3 to 15 years and interest rate shall not exceed 12% annual interest.
Mortgage credit shall be issued in mantas and maximum amount of credit per head is AZN 30,000. The credit amount shall not exceed 70% of total price of purchased real estate and monthly amount of commitments does not exceed 50% of borrowers revenue РґРѕС...РѕРґРѕРІ.