3,500 mortgage loans refinanced in Kazakhstan
Baku, Azerbaijan, Nov. 10
By Elena Kosolapova - Trend:
The refinancing of 3,500 mortgage loans has been completed as of November 1 in Kazakhstan, reported the National Bank of Kazakhstan Nov. 9.
In total, the banks has received more than 11,000 applications for refinancing loans, and approval for refinancing was issued to more than 6,000 applications as part of the program.
The National Bank of Kazakhstan noted that the period for allocating the money under the program will end in March or April 2016.
"In this context, borrowers need to speed up the submission of statements and documents to the bank in order to refinance their loan," according to the bank message.
The program on refinancing mortgage loans and mortgages was approved in April 2015.
The National Bank of Kazakhstan allocated 130 billion tenge (the official rate of the National Bank of Kazakhstan as of November 9 is 307.53 tenge = $1) for banks to refinance second tier residential mortgage loans.
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