Will mortgage lending conditions change?


October 1, Fineko/abc.az. In case such a necessity appears the Mortgage & Credit Guarantee Fund will continue further the work aimed at improving the mortgage lending system. 

MCGF informed ABC.AZ about that, when commenting on the question whether there will be any changes in the mortgage lending conditions in the near future.

The Fund says that over the past period the MCGF has created a mechanism of restructuring and made a number of significant changes with the purpose to increase the maximum amount of mortgage loans, expand the circle of persons willing to get subsidized mortgage loans, broaden access to mortgage loans for citizens with low level of initial contribution, introduce a mechanism of mortgage loan guaranteeing, apply different approaches in districts of the country towards the analysis of income and expenditure in order to encourage taking of mortgage loans, protect the rights of loan borrowers whose solvency has worsened.
The Fund examines periodically the needs of the population, the existing difficulties in mortgage lending, as well as the experience of advanced countries in this area and applies them with taking into account the specific features of the country.