— Currency: AZN — Amount: cannot exceed AZN 100,000 and 80% of the market value of the purchase — Term: from 3 to 25 years (in social mortgage loans till 30 year)
— Commission: 0,1% — Annual interest rate: cannot exceed 8% — Collateral: acquired home or apartment — Mortgage value: calculated by independent appraisal companies — Mortgage recipien: t must be the Azerbaijani citizen — Repayment: equal monthly installments (annuity). Each installment cannot exceed 70% of the total monthly income of the borrower (s) — Insurance: the life and ability to work of the borrower as well as the mortgage object must be insured to the amount equaling the amount of the loan — Deadline for loan repayment: cannot exceed the legal pension age of the borrower
MIDA LLC and Unibank CB OJSC have signed a co-operation agreement and are offering the people a soft mortgage programme.
It being in conformity with the decree of the President of the Republic dated 16.11.2016, using the soft mortgage programme via the Mortgage and Credit Guarantee Fund of the Azerbaijan Republic is one of the privileges granted to those citizens of the country who are entitled to purchasing the discounted flats controlled by the State Housing Construction Agency under the aegis of the President of the Azerbaijan Republic. Such loans shall be given via the agent-banks listed as such by the Mortgage and Credit Guarantee Fund of the Azerbaijan Republic OJSC and undersigned to the relevant co-operation agreements with MIDA LLC that is subordinated to the Agency.
Unibank CB OJSC has become the next credit institution that has submitted the appropriate documents and confirmed its intention to co-operate with MIDA LLC in accordance with the application served by the State Housing Construction Agency to the agent-banks of the Mortgage and Credit Guarantee Fund of the Azerbaijan Republic.
— The documents testifying the source of income over the last 12 months and the payments from the income to the Pension Fund — The document testifying the right of ownership of the purchased property — The document that indicates family composition — Other documents recommended by Unibank’s loan officer
Following persons have rights to use social mortgage loans:
Following persons who are member of young family: — Member of martyr families (husbandwife, children); — National Hero (himselfherself, husbandwife, children); — Refugee or person equal to himher; — Person employed in state entities for more than 3 years, including person employed in special civil service; — Person employed as a teacher for at least 5 years by public schools; — Person with PhD academic degree; — Person with special achievements in sports (honorary physical and sport trainers, winner of competitions within country (I place), persons rewarded in international competitions (I, II and II places);
— Person with a degree of Doctor of Sciences; — Person employed by state entity for more than 15 , as well as who serves in special civil service; — Military workers employed in Ministry of Defense of Azerbaijan Republic, Ministry of National Security of Azerbaijan Republic, Ministry of Emergency Situations of Azerbaijan Republic, Internal Forces of Ministry of Internal Affairs of Azerbaijan Republic, State Border Services of Azerbaijan Republic and Special State Protection Services of Azerbaijan Republic more than 3 years (except military workers serving on call-up period). — Person with special rank, who employed by internal affairs authorities for at least 3 years — Research workers with at least 3 years of experience in the field of science
Notice: Every family (person) who is entitled to use social mortgage loans can use these concessions only one time