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MORTGAGE LENDING IS AGAIN DELAYED
KarabakhOpen
06-06-2007 12:53:05
Mortgage lending is again delayed, whereas two months ago the
preparations seemed to be over. We inquired from the minister of
territorial administration and development of infrastructures Armo
Tsatryan, who said there is a legislative basis but new proposals
were offered. These involve investing part of the funds allocated for
mortgage lending in a block of apartments, which young families can
buy on a mortgage loan. It is not known yet how much funds will be
needed and how many apartments there will be. The ministry of urban
planning is studying the proposal.
What if the borrowers want to buy an apartment in another district?
According o the minister, the funds that will not be spend on the
building will be lent as well.
This year the government has allocated 700 million drams for mortgage
lending.
KarabakhOpen
06-06-2007 12:53:05
Mortgage lending is again delayed, whereas two months ago the
preparations seemed to be over. We inquired from the minister of
territorial administration and development of infrastructures Armo
Tsatryan, who said there is a legislative basis but new proposals
were offered. These involve investing part of the funds allocated for
mortgage lending in a block of apartments, which young families can
buy on a mortgage loan. It is not known yet how much funds will be
needed and how many apartments there will be. The ministry of urban
planning is studying the proposal.
What if the borrowers want to buy an apartment in another district?
According o the minister, the funds that will not be spend on the
building will be lent as well.
This year the government has allocated 700 million drams for mortgage
lending.