The rules for issuing mortgage loans through the state line have changed in Azerbaijan

In order to ensure access to mortgage loans for a greater number of citizens in need of housing in Azerbaijan, to further increase the transparency of work processes, and to prevent cases of abuse, changes have been made to the rules for issuing mortgage loans.

BAKU.WS reports this with reference to the Mortgage and Credit Guarantee Fund.

According to the changes, a person who is not a tenant under a current lease agreement concluded with the fund within the framework of the mechanism for leasing residential premises with a commitment to sell them will be able to use a mortgage loan as a primary borrower.

In addition, when applying for mortgage loans, the SIMA digital signature technology will be implemented at the initiative of the fund. Thanks to the new solution, citizens will be able to confirm their applications using the SIMA İmza biometric identification functionality.