OREANDA-NEWS. April 29, 2010. Three Kazakhstan banks with the government participation - BTA Bank, Alliance Bank, Temirbank and BTA Ipoteka announced the joint agreement to accept the mortgage lending single standards. The need in these standards  development was preconditioned by the number of unbiased problems of the Kazakhstan market mortgage lending, the main of which include the low creditworthiness of borrowers and continuing worsening of Kazakhstan banks credit portfolios, reported the press-centre of KASE.

In order to overcome these negative trends and understanding the need in application of the comprehensive approach to solution of existing problems, Kazakhstan banks with the government participation developed three solution packages aimed at the wide range of borrowers.

The first package is aimed at borrowers from socially vulnerable populations, which own the only housing purchased through a hypothecary loan. This category of borrowers will be proposed the hypothecary loan restructuring that includes temporary decrease of the monthly payment size to 10% from the current size, and the two years beneficial period.

The second package includes the housing lease that was purchased through the hypothecary loan. This package will be proposed to borrowers, who can not pay on a monthly basis over 50% of the current payment size. This package implementation stipulates the housing buy back in borrowers at the current market cost with the following lease for 2 years. Thus, this category of borrowers will be able to reside on the same place on beneficial terms. The monthly rental payment will not exceed 50% from the current loan repayment size. Given this upon two years expiry a borrower will have the right to buy back the housing at the amount equal to a remaining debt part to the bank.

The third package stipulates the possibility to decrease the interest rate and to increase the crediting period to 3 years. Decisions on each specific case will made individually.