Exclusive: Mortgage limits for authorised banks may be increased


Sentyabr 30, Fineko/abc.az. The authorized banks have given mortgage loans in the total amount to AZN 117 million this year, reports the Mortgage & Credit-Guarantee Fund. 

According to the Fund, giving of mortgage loans will continue until the end of the year. 

The MCGF also says that part of the funds allocated in 2019 from the State Budget for financing subsidized mortgage lending in the amount of AZN 40 million is aimed at supporting the sale of apartments at the disposal of the State Housing Agency: "Currently, giving of subsidized mortgage loans for purchase of those apartments is ongoing successfully. As both subsidized and usual mortgages are offered on favourable terms, there is currently a high demand for these loans. The Fund periodically studies the demand in the mortgage market and considers the question of additional limits as part of attractive opportunities to ensure the sustainability of mortgage lending".