OREANDA-NEWS. July 04, 2011. This year the agents of the Azerbaijan Mortgage Fund (AMF) under the Central Bank have collapsed lending pace of 2010 (+25.5%).

In June 2011 they increased mortgage lending by 14.9% against May when it rose by 2.2% versus March.

The AMF reports that this June mortgage loans for 8 million manat were given against 9.4 million manat in May, 9.2 million manat in April, 8.4 million manat in March, 5.5 million manat in February, 3.3 million manat in January of 2011 and 8.6 million manat in December of 2010.

As of 1 July 2011 mortgage lending in Azerbaijan on the AMF standards was AZN 43.8 million which is still equivalent to 45.7% of its volume in 2010 (95.9 million manat).

At that, for Jan-Jun 2011 the Fund conducted refinancing of the previously given loans for 33.4 million manat (including 4.6 million manat in June, 7.7 million manat in May, 5.9 million manat in April and last December’s 9.2 million manat).

In 2011, the volume of the mortgages refinanced by the Fund still makes up 36.9% of its volume in 2010 (90.5 million manat).

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