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Mortgage credit has increased by 165% in March-July

Business Materials 4 August 2006 15:37 (UTC +04:00)

Since the beginning of the mortgage credit system in Azerbaijan, 62 mortgage credits were granted through the partner-banks of Azerbaijan Mortgage Fund (AMF), Trend reports with reference to AMF. The gross amount of the granted credits exceeds AZN 1.4 mln. The growth rate in March-July is reported at 165%.

At the moment, 150 credits are under legalization process.

The average amount of the mortgage credit was AZN 20-21 thousand. The average period of debt is 31 years. The average interest rate of credit is 9.7%, and 35-36 percent of granted credits were delivered with interest rate of 8-9% annually.

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