The State Mortgage Company of Kyrgyzstan will provide mortgages without a down payment. Deputy Aaly Karashev announced at a meeting of the Parliament today.
According to him, the company plans in the near future to gradually reduce the interest rate on the state mortgage loan to 4 percent per annum.
«We exclude basic rate of 10 percent per annum from the law. It will be determined by the Cabinet of Ministers. In addition, we exclude a down payment of at least 10 percent of the cost of the purchased housing. The interest is 6-8 percent per annum now, it is planned to lower it to 4 percent in the future,» Aaly Karashev said.
