Mortgage lending law may be amended in Azerbaijan according to year-end results

Mortgage lending law may be amended in Azerbaijan according to year-end results
# 22 June 2007 11:42 (UTC +04:00)
He added that more than 1,500 mortgage loans worth about AZN 56 million have been lent within the scope of mortgage lending process in the country.
“There is a short timeout now. We expect the planned 17 million manats to come to Azerbaijan Mortgage Fund soon. The delay results from technical reasons,” he noted.
Aslanli noted that the mortgage lending results will be analyzed at the year-end and the legislation may be amended in accordance with the results.
Azerbaijan Mortgage Fund has started lending state-funded mortgage loans through 23 authorized banks. The ceiling interest rate on mortgage loans is 8% annually and the interest rate on concessional (preferential) mortgage is 4% annually. /APA-Economics/


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