In September mortgage lending continued to decline

BAKU/02.10.13/TURAN : Authorized banks of the Azerbaijan Mortgage Fund ( AMF) issued in September 2013, the population of mortgages by 2.05 million manat, which is 2.2 times less than the previous month and up to 6 times less than the July figure.

According to the AMF , the reported month fund refinanced loans totaling $ 6.97 million manat. The total amount of refinancing from the beginning of the year amounted to 51.95 million manat.

From 2006 through the Fund issued mortgages worth 496.9 million manat, including since the beginning of the year at 80.21 million manat. 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 the only social mortgage , for which needs of the state budget in the last two years was allocated 20 million manat. In 2013, the social mortgage was 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 and 30 million manat manat each. In December last year was gosregistatsiyu prospectus of interest -entry registered bonds secured by the fund in the amount of 40 million manat. This issue has recently been completely posted , and the new 20 million manats passed state registration at the last day of September . Probably for this reason, banks, starting in August , so sharply reduced lending.

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. – 15B -