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Saga on disputes and litigation on lowering the interest rate of mortgages into 5 percent continues.
This issue was discussed today at the Economy Standing Committee.
MP A.Tleihan questioned President of BoM N.Zoljargal on Z.Bayanselenge's, Minister of Construction and Urban Development, official announcement on lowering the mortgage interest rate to 5 percent and in reality, banks are issuing mortgages with 8 percent interest rate, which creates expectations among the public and asked to give definite answer.
In response, the President of BoM N.Zoljargal said that lowering the mortgage interest rate to 5 percent will be finalized within March and preparatory work has begun already. Regulation on Mortgage Lending Process is needed to be amended in order to lower the interest rate and BoM is working and meeting with the Ministry of Construction and Urban Development regularly. Due to Future Heritage Law approval, some arrangements should be made in accordance with the law.
Saga on disputes and litigation on lowering the interest rate of mortgages into 5 percent continues.
This issue was discussed today at the Economy Standing Committee.
MP A.Tleihan questioned President of BoM N.Zoljargal on Z.Bayanselenge's, Minister of Construction and Urban Development, official announcement on lowering the mortgage interest rate to 5 percent and in reality, banks are issuing mortgages with 8 percent interest rate, which creates expectations among the public and asked to give definite answer.
In response, the President of BoM N.Zoljargal said that lowering the mortgage interest rate to 5 percent will be finalized within March and preparatory work has begun already. Regulation on Mortgage Lending Process is needed to be amended in order to lower the interest rate and BoM is working and meeting with the Ministry of Construction and Urban Development regularly. Due to Future Heritage Law approval, some arrangements should be made in accordance with the law.