Authorized banks of the Azerbaijan Mortgage Fund (AMF) issued in July 2013 mortgage loans of 12.53 million manat compared to 13.89 million manat in May.
According to the AMF, in the reported month the fund refinanced loans totaling 6.39 million manat. The total amount of refinancing from the beginning of the year amounted to 42.03 million manat.
From 2006 through the Fund issued mortgages worth 490.38 million manat, including 73.69 million manat this year. Of these, 39% were aged between 18-29 years, 33% - at the age of 30-35 years and the remaining 28% - at the age of 36 years or more.
Today, the government finances only social mortgage, for which the state budget in the last two years allocated 20 million manat. In 2013, the social mortgage has already been sent twice as much.
Commercial mortgage financed through the issuance of bonds AMF. For these purposes during 2009-2012 Mortgage Fund places five issues for AZN 55 million, 75 million manat, AZN 60 million, 20 million AZN and 30 million manat each. In December last year the prospectus of interest-entry registered bonds secured by the fund in the amount of 40 million manat was registered. From the last issue the fund placed 34 million manat.
Mortgage loans are issued to citizens of Azerbaijan in the amount of up to 50,000 manat for up to 25 years at a rate no higher than 8%. Concession loans are granted at a rate of up to 50,000 manat for up to 30 years at a rate of 4% per annum. - 15V -
Economics
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