TODAY.AZ / Business

243 people take out mortgage loan

13 January 2007 [01:53] - TODAY.AZ
The authorized banks of the Azerbaijani Mortgage Fund (AMF) have to date issued 243 mortgages since March this year while 350 applications were received.

Azerbaijan Mortgage Fund told APA that 47 individuals applied for a mortgage in March, 30 in April, 15 in May, 21 in June, 25 in July, 24 in August, 30 in September and 39 in October, 41 in November, 78 in December.  However, 4 people obtained a mortgage loan in March, 6 in April, 13 in May, 16 in June, 21 in July, 22 in August, 28 in September and 30 in October, 42 in November and 61 in December.

The annual interest rate of an average mortgage loan was 5%, minimum period was years, and total amount exceeded AZN 5.5.

No mortgage loan has been lent this year.

AMF has started lending mortgage loans since March 1 through 22 authorized banks. Bank Standard was the first to allow a mortgage.


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