BAKU, Azerbaijan, Aug. 10
By Eldar Janashvili – Trend:
The monthly amount of mortgage loans provided through the state means in Azerbaijan increased over the month by 2.7 percent, or 40 million manat ($23.5 million), exceeding 1.4 billion manat ($823.5 million) as of August 1, 2020, Trend reports citing the Azerbaijan Mortgage and Credit Guarantee Fund.
During June and July 2020, the number of monthly mortgage loans provided through the state increased by 1,441 units in two months, reaching 28,335.
In 1H2020, the amount of guaranteed loans amounted to 94.7 million manat ($55.7 million), showing an increase of 3.3 million manat ($1.9 million) or 3.7 percent.
The Fund's current loan in circulation amounts to 800,644 manat ($470,967).
At present, mortgage loans worth no more than 150,000 manat ($88,235) are provided for a period of 25 years with a minimum prepayment of 15 percent, and preferential mortgage loans not exceeding 100,000 manat ($58,823) - with a minimum prepayment of 10 percent and for a period of 30 years.
($1 = 1.7 manat on Aug. 10)