Azerbaijan Mortgage Fund finances 635 loans

The AMF told APA-Economics that the mortgage lending accelerated after a presidential decree to improve lending mechanism and apply favorable privileged mortgage loans.

As at late December, the authorized banks of the Azerbaijani Mortgage Fund issued 243 mortgages against 350 applications were received. 50 of the mortgages went to regions.

Up to now, the fund has received over 2,000 applications for mortgage loan. The average loan was at an interest rate of 6.8% annually for 13 years, home 58 square meters, mortgagor 33 year-old.