OREANDA-NEWS. October 05, 2011. Bank Standard has approved out 395 of the 561 applied-for residence purchase loans from Azerbaijan’s Mortgage Fund since the resumption of the AMF mortgage lending. 366 loans totaling at AZN 14 mln. 700 thousand have been given to date; this includes 21 soft (“social”) mortgage loans totaling at AZN 700,000 and given to young families and military personnel, reported the press-centre of FBK.

Bank Standard on-lends the AMF mortgage loans to the Azeri citizens, in AZN, as secured with real estate, for up to 25 years under 8% annually. The social mortgage loans are given for up to 35 years under 4% annually.

Bank Standard has been one of AMF’s on-lending agents ever since AMF was established. The close co-operation enables the bank to expand mortgage lending. The mortgage loan applications are collected at Standard Bank’s specialized Mortgage Branch.