Apartment mortgage program continuesPolitics
Ulaanbaatar /MONTSAME/ The Bank of Mongolia has stated that apartment mortgage program with 8 per cent interest rate will be transferred to the Government within 2018. New mortgage loans will be issued till the end of 2017, financed with monthly repayment income of loans. The remaining funding will be solved through reflecting it in the State Budget by the Government.
Last month, 396 persons received mortgage loan of MNT24.3 billion with 8 and 5 per cent interest. Since the new regulation approval on the apartment mortgage financing, the Bank of Mongolia has spent MNT142.3 billion for the financing of mortgage, solving mortgage applications of 2042 persons by February 2017.