The mortgage loan interest has been reduced to five percent from eight percent. However the program will be realized in two phases. In the first turn, residents of re-planned areas and of remote three districts of Ulaanbaatar and all provinces will be involved in the program. Next time, those who are already in mortgage loans with eight percent or new applicants could be involved in the mortgage programme.
Commercial banks have started to grant five percent mortgage loans from yesterday.
State bank estimated that there are total of MNT 67.3 billion mortgage loans of 1894 households to involve in five percent mortgage loan program. As of yesterday, MNT 272 million of 104 borrowers of which were received five percent mortgage loans.
The mortgage loan interest has been reduced to five percent from eight percent. However the program will be realized in two phases. In the first turn, residents of re-planned areas and of remote three districts of Ulaanbaatar and all provinces will be involved in the program. Next time, those who are already in mortgage loans with eight percent or new applicants could be involved in the mortgage programme.
Commercial banks have started to grant five percent mortgage loans from yesterday.
State bank estimated that there are total of MNT 67.3 billion mortgage loans of 1894 households to involve in five percent mortgage loan program. As of yesterday, MNT 272 million of 104 borrowers of which were received five percent mortgage loans.