The visit of the specialists of the Azerbaijan Hypothec Fund to a number of countries of CIS to study their experience of introduction of social mortgages still continues. According to the General Director of the National bank of Azerbaijan Rufat Aslanli, on completing the visit to Kazakhstan, they have left for Kiev (Ukraine). At present the negotiations with some European countries.
The main goal of the visit is studying of social hypothec, however, the first results we had in Kazakhstan speaks that the social hypothec has its peculiar elements and here it is difficult to apply any countrys experience to it. That what has been developed in Kazakhstan, and the statistics showed that they could not achieved the results they had expected. They suggested granting of over 200 thousand of social grants, but only 4 thousand has been granted up today. That speaks that when the elements of social hypothec are developed, it is necessary to count all the steps to further justify these social groups` peoples hopes, thinks R. Aslanli.
The visits of the Azerbaijan Hypothec Fund`s specialists on studying of other countries` experience on social mortgages are carried out by the decision of the Cabinet of Ministers of Azerbaijan. After these visits it is expected to review the rules of exempting on hypothec crediting. According to the last variant, the term of full repayment of the hypothec credit is 25 years annua sum on the credit has been reduced on 50 per cent. If at present during the forming of credit, 30 per cent of the total cost of a future flat is needed to be paid, then this sum will be reduced by half.
The percentage on the credit has not been changed and has been kept at the level of 12 per cent a year. Besides, it is planned that the government will take a half of the first payment, or a half of interest-bearing repayment of the credit
According to the preliminary estimation made by the Ministry of Youth, the country has about 50,000 young families who need improvement of their conditions of life. According to the data of the Ministry of Defense military men who need such an improvement are about 25,000-30,000.
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