Mortgage loan financing at over 155 billion MNT since the beginning of 2018

The American Chamber of Commerce in Mongolia

2018-08-29 16:29 GMT+8

In July, the Bank of Mongolia provided 15.9 billion MNT in mortgage loan financing to commercial banks for 231 mortgage requests, bringing the number of mortgage loan borrowers in 2018 to roughly 2,050.

Cabinet allotted 59.6 billion MNT for 860 mortgage loans, while the Bank of Mongolia has financed 1,187 mortgage loans with 96.2 billion MNT.

It is expected that a total of 300 billion MNT will be allocated for mortgage loan financing in 2018 for an estimated number of 5,000 borrowers.

As of July, the total number of mortgage loan borrowers exceeded 93,000, with outstanding mortgage loans valued at 4.2 trillion MNT.

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