Authorized banks of Azerbaijan Mortgage Fund (AMF) under the Central Bank of Azerbaijan, issued during the last year of credits by 75.2 million manats, 20.3 million or 21.3% less than in 2011 year.
According to the Central Bank of Azerbaijan, the average lending rate in 2012 increased 0.09 percentage points to 7.00%. The average credit period reached 278 months.
The average for the monthly payment increased by 5.1% to 317 manat, the same indicator for the amount of loans fell by 1.7% to 38.72 thousand manats.
AMF agents are 27 local banks. Mortgage loans are issued to citizens of Azerbaijan in the amount of up to 50 000 manats for up to 25 years at a rate no higher than 8%. Concession loans are up to 50 000 manats for up to 30 years at a rate of up to 4% per annum. - 15V-
Economics
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