OREANDA-NEWS. February 04, 2011. This year the agents of the Azerbaijan Mortgage Fund (AMF) under the Central Bank still fail to keep lending pace of 2010 (+25.5%).

In January 2011 they lowered mortgage lending 2.6-fold against December 2010.

The AMF reports that this January mortgage loans 3.3 million manats were given against 8.6 million manats in December.

As of 1 February 2011 mortgage lending in Azerbaijan on the AMF standards is still equivalent to 3.44% of its volume in 2010 (95.9 million manats).

At that, last month the Fund conducted refinancing of the previously given loans totaling 5.2 million manats against last December’s 9.2 million manats.

In 2011, the volume of the mortgages refinanced by the Fund still makes up 5.75% of its volume in 2010 (90.5 million manats).

The process of mortgage lending on the AMF standards started in the country in March 2006.