Due to the decision of the Board of the Azerbaijan National Bank, the list of participants of the system of mortgage lending in the country has been extended. During the today`s press conference devoted to the results of the first six months since the mortgage lending was launched in the country, Faig Mammadov, Executive director of the Azerbaijan Mortgage Fund told that Bank of Azerbaijan joined the bank-agents of the fund, and the number of these agents was extended up to 16 as a result of it, Trend reports. According to Mr. Mammadov, other appeals
At the same time, the list of insurance and evaluation companies rendering services to
the mortgage lending in the country was extended. Three insurance companies Alfa Sigorta LLC, Xalq Sigorta and Pasa Sigorta CJSC, and two estimation- consulting companies AzРµrkonsalt and Caspian Property Services were included to the list of the companies-participants of the country`s mortgage lending market. Now, the number of insurance and evaluation companies participants of the mortgage lending market has been extended up to 10 in each direction.
Since the mortgage lending was started (March 1, 2006), 12 banks out of the total 15 operating bank-agents have joined the process. Totally 86 credits to the total sum of 1.848 m. AZN have been lent up to date. The average interest on mortgage credits being lent makes up С' 10.2 per cent, and the minimum 8 per cent. The average sum of the credit is 21.450 AZN, and the monthly average repayment on the credit 268 AZN, and the minimum - 62 AZN. The average living space area made up 55 square meters, and the average age of the person received the mortgage credit by means of the Azerbaijan Mortgage Fund is 33 years.