Mortgage loan eligibility benchmarks not set yet

23-03-2007 11:53:09 – KarabakhOpen

The government has confirmed the order of mortgage lending. The
government has also confirmed the staff of the commission, which sets
the benchmarks of eligibility for mortgage lending.

The commission continues to work on the benchmarks, said Armen
Avagyan, the d irector of the Artsakh Development Agency, in an
interview with KarabakhOpen.

The mortgage lending policy is implemented by the ADA. This year the
government assigned 700 million drams for mortgage loans.

According to Armen Avagyan, after ratification by the prime minister
the benchmarks will be released. Afterwards the applications will be
accepted. Armen Avagyan said they will probably announce the date of
submission of application in late March or in early April.