Mortgage loans given by Mortgage & Credit Guarantee Fund exceeds AZN 1.2 bn


April 9, Fineko/abc.az. Conclusion of contracts for mortgage lending and insurance, assessment of mortgage items is conducted by authorized insurance companies and licensed appraisers. Currently the Mortgage & Credit Guarantee Fund of Azerbaijan is cooperating with 24 authorized banks, 18 insurance companies and 17 appraisers.

Mortgage financing from the Fund began in 2006, and the volume of mortgage loans given by the Fund by 1 April 2019 has exceeded AZN 1.2 bn. Of them, AZN 380.3 million (7,854 mortgages) account for mortgage loans given to persons belonging to preferential categories. As a whole, in 2006-19 (before 1 April 2019) 67.9% of the mortgage loan beneficiaries were young people and young families, and 19.5% of the loans were given in districts of Azerbaijan.