Preferential mortgage lending maybe doubled in 2013

For extension of social mortgage lending, the State Budget is planned to allocate AZN 40 mln to Azerbaijan Mortgage Fund next year, up twice from 2012’s performance, this was noted at the first draft of the state budget-2013.

Totally, AZN 136 mln will be formed in the Mortgage Fund, by taking the funds allocated and received from state budget and other sources into consideration

Note that, the mortgage loans given through AMF during January-September, 2012 made AZN 45.58 mln, down 33.8% from a year earlier. Totally, the mortgage loans, which have been given through AMF since it launched, reached AZN 391.12 mln. Consequently, as of October 1, 2012, per head mortgage loan was AZN 42.1. AZN 69.5 mln-loans were refinanced during 9 months. Totally, AZN 321.72 mln or 82.26% of loans given were refinanced.


/APA/