Miscellaneous

Azerbaijan makes amendments to mortgage loan procedure

BAKU, Azerbaijan, President of the Republic of Azerbaijan Ilham Aliyev signed a Decree amending the “Procedure for granting mortgage loans, including easy-term mortgage loans, through funds of the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan”, approved by Presidential Decree No. 940 of June 22, 2016, Trend reports.

 

Decree is subjected to the following amendments:

 

– paragraphs 1, 1-1 and 2 of sub-clause 3.2.1 are indicated in the following wording:

 

“1. children of a martyr;

 

– children of the Hero of the second Karabakh war of the Republic of Azerbaijan.

 

– children of the National Hero of Azerbaijan;

 

– At the end of subclause 3.2.8, the period is replaced by a semicolon, subclauses 3.2.9 – 3.2.11 with the following content are added:

 

“3.2.9. the martyr’s family member (husband/wife);

 

3.2.10. Hero of the second Karabakh War of the Republic of Azerbaijan (husband/wife);

 

3.2.11. National Hero of Azerbaijan (husband/wife).”

 

Source: TREND News Agency