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Only 500 mln soms budgeted for mortgage loans for state employees

Only 500 million soms were budgeted for state mortgage lending to state employees in 2018. The State Mortgage Company informed 24.kg news agency.

According to representatives of the company, the government promised to revise the amount increasingly in the first half of the year.

Mortgage loans are issued in all regions of the republic. They are provided to employees of budget-funded institutions and organizations who need their own housing in accordance with the relevant decisions of the Interdepartmental Commission under the Government of the Kyrgyz Republic, in particular, to employees of the sphere of education, health, social development, culture and other state-funded organizations.

In the absence of own housing and solvency, budget sector employees can apply to local state administrations at their place of residence to obtain a mortgage loan.

Mortgage loans to state employees are preferential — 8 percent per annum with making an initial payment of 30 percent of the cost of housing; 9 percent per annum, if you pay 20 percent of the amount, and 10 percent per annum in case of payment of 10 percent of the cost of housing.

In 2018, the State Mortgage Company plans to issue loans to ordinary citizens also.

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