Fitch revises outlook on Azerbaijan Mortgage & Credit Guarantee Fund

Fitch Rating has revised the Outlook on Mortgage & Credit Guarantee Fund of the Republic of Azerbaijan's (MCGF) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to Positive from Stable and affirmed the IDRs at 'BB+'

Mortgage Fund held an auction and raised AZN 70 million

Fairly broad category of citizens has access to preferential mortgages

In Azerbaijan, a fairly wide category of citizens has access to preferential mortgages.

2,796 residential premises provided to tenants

The Azerbaijan Mortgage & Credit Guarantee Fund has published the amount of loans for which guarantees and subsidies were provided.

Most mortgage contracts concluded in Baku

Mortgage Fund sold more than 2,600 apartments by rental method

To date, the Azerbaijan Mortgage & Credit Guarantee Fund has given loans to 41,223 borrowers for AZN 2.3 bn

Mortgage Fund’s authorized capital increased

President Ilham Aliyev signed a decree on the amendments to the Charter of the Mortgage & Credit Guarantee Fund

Ilham Kalashov: AMCGF gets profit of AZN 100 million

Last year, the profit of the Azerbaijan Mortgage & Credit Guarantee Fund amounted to AZN 9.2 million

Mortgage Fund has published margin

The margin on mortgage loans of the Azerbaijan Mortgage & Credit Guarantee Fund became known.

40,372 mortgage loans given to date

The number and amount of mortgage loans given through the Azerbaijan Mortgage & Credit Guarantee Fund has been announced.

Mortgage Fund leased 2,410 apartments with right of repurchase

Rental housing prices increased

In August 2022, the consumer price index for paid services to the population reached 100.7% versus the previous month and 109.5% against August 2021.

Procedure for buying housing by rental method can also be applied in districts

Azerbaijan is likely to lease residential premises in country’s districts with their subsequent sale

Amount of loans issued by MCGF to date revealed

To date, the Mortgage and Credit Guarantee Fund of Azerbaijan (MCGF) has issued loans to 40,004 borrowers in the amount of 2,247.048 million manats

Auction for placement of  MCGFs bonds to be held

Number of mortgage loans issued by state revealed

Interest and nominal payments on Mortgage Fund’s bonds disclosed

Quantity of apartments leased within state line

Mortgage Fund offers another 216 apartments within mechanism of apartment renting with right to buy them

Mortgage Fund suggests new lending limits to banks

The Azerbaijan Mortgage & Credit Guarantee Fund has allocated new lending limits to authorized banks.

Mortgage loans to be given in liberated territories

A working group will be created in connection with the organization of the mortgage program in the liberated territories, including in the city of Shusha.