TODAY.AZ / Business

Mortgage terms to be mitigated

20 January 2007 [14:15] - TODAY.AZ
A decree will be issued soon to mitigate terms of mortgage lending.

Azerbaijan's Youth and Sport Minister, Azad Rahimov, said that the President took the initiative to mitigate mortgage terms and instructed the Cabinet to work on the draft.

The draft has been developed and introduced to the President.

"The preferential terms will appear more favorable and interesting to young people. The amendments include low interest rates, long payment period and reduction in application process," he said.

Azad Rahimov said that the figures will be publicized after the presidential decree.


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