Azerbaijan, Baku / Trend corr. I.Khalilova / Elman Rustamov , the Chairman of the manager of the National Bank of Azerbaijan (NBA), has stated that the Mortgage Credits Guarantee Fund at the Azerbaijani Mortgage Fund (AMF) will begin functioning from the second part of 2007. The Fund will have a juristic person status as a non-commercial organization.
The aim of establishing the Fund is the liquidation of the primary payment during the acquisition for mortgage credits in the future.
Presently, after modernizing the mortgage credits granting mechanism, the acquisition process was decreased from 30% to 15%. In the future the primary payment will be granted by the Credits Guarantee Fund.
The corresponding normative base was developed by the employees of the NBA and the AMF, as well as the practice in the corresponding countries, where the analogue structure has been established, was studied (in Kazakhstan and European countries).
| Countries | Mortgage credit tariffs | Primary payments | Date of granting mortgage credits |
| 11,5-14,5% | 10-30% | 1-25 year | |
| 10-14 % | 10-30% | 3-20 year | |
| 12-13% | 10-30% | 30 year | |
| 14-22% | 30% | 3-7 year | |
| 4-8% | 15-0% | 3-30 year | |