President Ilham Aliyev has made changes to the “Rules for Issuing Mortgage Loans, including Concessional Mortgage Loans, at the Expense of the Mortgage and Credit Guarantee Fund,” approved by his decree dated June 22, 2016.
The head of state has signed a new decree in this regard.
According to the decree, in the liberated territories, the amount of an ordinary mortgage loan must not exceed 90% of the value of the residential area encumbered by the mortgage as of the date the loan is issued. In other territories, this indicator is 85%.
Furthermore, in the Karabakh and East Zangezur economic regions, the monthly amount to be paid for a mortgage loan must not exceed 75% of the borrower's (borrowers') total monthly income. In other territories, this indicator is 70%.