12:29 - 13.12.2022

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December 13, Fineko/abc.az. Changes have been made to the procedure for calculating the mortgage loan borrower's total monthly income.

ABC.AZ was informed at the Cabinet Ministers that Cabinet’s decision #441 is aimed at increasing public access to mortgage lending, improving the work on the analysis of income and expenses of persons wishing to obtain a mortgage loan.

Under the amendment to the Resolution, the income of the borrower (borrowers) on a mortgage loan provided at the expense of the Azerbaijan Mortgage & Credit Guarantee Fund, including a preferential mortgage loan, from hired work, along with subsystem "Insurance" MEIS will also be determined by subsystem "Notice of employment contract" and other supporting documents, established by tax, labor, insurance, including social insurance and banking legislation. At that, the average monthly incomes of borrowers with a reduced tariff (official) salary will be calculated in accordance with their real incomes after the date of the change.