Rules on Azeri mortgage loans altered
BAKU – Changes have been made to the regulations on allocating mortgage loans in Azerbaijan.
According to the changes, effective from November, the down payment required to receive such loans, provided by the Azerbaijan Mortgage Fund (AMF), has been raised from 15 percent to 20 percent of the property being purchased. For instance, whereas a borrower seeking to buy a home worth $50,000 so far initially had to pay $7,500, the required amount is now $10,000.
Under another change, a family will no longer be able to receive more than one mortgage loan, according to the AMF website.
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