According to statement, on the basis of state-private business partnership, providing market with cheap and comfortable houses plays important role in improvement of housing. Besides, it’s possible to form new alternative and completing financial resources through stimulating usage of personal incomes for housing. For this purpose, development of deposit-living-construction banks on the basis of world experience is one of the main priorities. To involve private investors in mortgage lending system, relevant works will be carried out for creation of mortgage lending and financing products.
According to CBA calculations, total volume of mortgage loans through AMF and banks reached AZN 750 mln. Throughout 2013, mortgage loans rose 35%, loans for concessional families – 33%. Consequently, number of families getting houses through mortgage loans exceeded 20,000. Along with the funds allocated from state budget, the resources from market also played important role in financing of mortgage loans. Over 60% f mortgage loans given through AMF has been financined by long-term debt funds involved from financial markets. AMF’s resources involved from the market reached AZN 30 mln. Two important development projects have been implemented for facilitation of mortgage lending and increase efficiency of activity of banks in this process. E-mortgage system and E-payment and clearing system have been created for automatization of mortgage procedures, payments on loan obligations, clearing and accounting in this sphere.
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