Mortgage loans to be restructured


May 4, Fineko/abc.az. The details of benefits to be made by banks during the pandemic have been disclosed.

ABC.AZ reports that Tural Feyzullayev, a lawyer of the Central Bank, as a guest of public TV program Diqqet Merkezi - Yekun (Center of Attention - Outcome), noted that the benefits will be provided on both mortgage and consumer loans.

CBA rep explained the details of the benefits: "The benefits on a mortgage loan are that if a citizen fails or cannot repay the loan, then with the consent of the Mortgage & Credit Guarantee Fund, it is possible to restructure it. When these loans are restructured in the bank's portfolio, this loan does not deteriorate. But there is another form of benefits in consumer loans. These are non-mortgage parts. For example, if a citizen previously repaid a loan on ordinary consumer loans before 1 March and now cannot repay it, the information is sent to the Credit Bureau, and his credit history does not deteriorate. It also provides recommendations on not charging them any penalties from the banks."