Azerbaijan issues mortgage loans totaling 335.78 million manta so far

The Azerbaijan Mortgage Fund (AMF), acting under the Central Bank, was granted 85.88 million manat loan in January-November, AMF reportedon Monday. A total of 11.48 million manat was allotted in loan in November. Mortgage loans totaling 335.78 million manat was granted from 2006 to Dec 1, 2011

The total amount of refinancing loans, which the banks issued before, amounted to 67.87 million manat for 11 months. Thus, 17.89 million manat has been allocated since the beginning of the year out of 20 million manat provided to finance the social mortgage by the 2011 state budget.
Conventional mortgages financed by placing mortgage bonds. The AMF has placed bonds worth 74 million manat during January-November.

Youth and young families account for 72 percent of total loans (41 per cent of borrowers aged 18-29 years, 31 percent - 30-35 years old) and 28 percent of loans accounted for borrowers over 36 years.


/Trend/