OREANDA-NEWS. June 10, 2009. Because of population’s numerous requests received by Azerbaijan Mortgage Fund (AMF) under the Central Bank, it was removed restrictions on mortgage acquisition only for newly erected buildings.

AMF informed that citizens are able to purchase apartments under mortgage both in new buildings and at the secondary market through authorised credit institutions.

“At the same time the Fund said it already sent a request to the Ministry of Finance to transfer funds designed for mortgage loans (AZN 14 million for 2009). When AMF is transferred the funds, it will resume social mortgage,” it was informed.

For more information call 441-19-87, 441-47-16, 441-28-24 (ext. 1-23, 1-29) or apply directly to authorised credit institutions: the International Bank of Azerbaijan, Azerdemiryolbank, AGBank, AtaBank, Bank Avrasiya, Bank of Azerbaijan, Bank Standard, Bank Respublika, Gencebank, Kapital Bank, UniBank, Pasha Bank, Muganbank, Tekhnikabank, Turanbank, Khalq Bank, Zaminbank.

Let’s remind that so far AMF extends commercial mortgage loans for 25 years under rate of 8% per annum with maximum loan amount of AZN 50,000.

Earlier social mortgage rate in Azerbaijan equaled 4%.