OMM Newsroom
Azerbaijan has amended its mortgage lending rules to enable more citizens in need of housing to access loans, make procedures more transparent and prevent abuse.
“Operativ Məlumat Mərkəzi-OMM” reports, citing the Mortgage and Credit Guarantee Fund.
New option: A person who is not a tenant under an active rental agreement with the Fund may also act as the primary borrower on a mortgage loan.
Biometric verification: Facial recognition technology will be used with the SİMA digital signature for mortgage applications. The measure is intended to improve application security and reduce the risk of third-party interference.
Instructions for applying are available on the “MyGov” portal. For more information, applicants can contact the Fund’s call center at 1549.
To date, authorized banks have issued around 61,000 mortgage loans worth a total of 4.185 billion manat using the Fund’s resources. Young people and young families account for 67% of beneficiaries.
