TODAY.AZ / Business

Meeting on preferential mortgage to be held in the Cabinet of Ministers

20 July 2006 [15:39] - TODAY.AZ
Allowance of state budget-funded mortgage by preferential conditions and amendments to the procedure of mortgaging will be discussed in the Cabinet of Ministers next week.

The cabinet economic and financial policy department chief Ogtay Hagverdiyev informs that a number of issues on allowing a preferential mortgage to youth and military men were discussed some days ago. Instructions were given to relevant bodies after the discussion.

The proposal on prolongation of term of mortgage from 15 years to 25 years was also approved. As to decrease of interest rate and initial payment, Mr. Hagverdiyev said that he can’t give any information about this issue.

The new procedures will be sent to the president after discussion next week, APA reports.


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