Azerbaijan REAL ESTATE MORTGAGE LOANS BANKS
In Azerbaijan too there will be a mortgage

Àçåpáàéäæàíñêèå ïàpëàìåíòàpèè after discussions in òpåòüåì reading ïpèíÿëè the law “About the mortgage”. After that will be óòâåpæäåíà ãîñïpîãpàììà hypothecary êpåäèòîâàíèÿ.

In ïpîåêòå programs it is provided to establish restrictions on the maximum and minimum sum of the credit. The maximum sum will be within $30-50 thousand, and minimum - $10 thousand

Acknowledgement of should become the main condition at delivery of the hypothecary credit that the borrower has a constant and sufficient income. For acknowledgement of solvency of the borrower banks will check its incomes.

Representatives of Natsbank (HÁÀ) also consider that application of hypothecary system can lead to process of legalisation of incomes of the population.

Interest rates under hypothecary credits are not concretised, but approximately will be within 10-15 %, at the minimum term in 10 years. Placing of credits will pass through banks which will receive means from hypothecary fund.

Stages of development of hypothecary crediting in Azerbaijan are provided in the State program which prepared by NBA and has been already submitted to in the Presidential device consideration. In it creation of universal banks on the basis of commercial banks, and also investment hypothecary fund is provided also.