Almost 100 requests for loans okayed within 7-20-25 program

23 July, 2018, 17:36 279
Almost 100 requests for loans okayed within 7-20-25 program

Such a number of loans worth 1.1 billion tenge were given.

In frames of new housing programs 95 mortgage loans worth 1.1 billion tenge were approved in Kazakhstan, Vice Minister for Investments and Development of Kazakhstan Kaiyrbek Uskenbayev announced in his interview to

"According to the National Bank, as of July 18, 2018, starting from July 4, the participating banks received 5528 applications of which 148 applications were submitted to the Credit Commission and 95 mortgage loans for 1.1 billion tenge ere approved,” the vice minister said.

In words of Uskenbaev, since the mortgage program started recently, it is too early to talk about its viability.

"Its viability depends on various facts: the citizens have the amount of the initial payment, confirmation of the solvency, lack of housing in the property, the availability of primary housing for acquisition and compliance with other requirements of the program," Uskenbaev stressed.

On the assumption that the participating banks attract a total of 100 billion tenge, upon an average loan amount of KZT 15 million, it is planned to issue in 2018 about 6,600 loans under the 7-20-25 Mortgage Program

To recap, the 7-20-25 mortgage housing program was initiated by the President of Kazakhstan. Currently, it covers only the primary housing market, those who do not have their own housing can get a loan. Apartments in Astana, Almaty, Aktau, and Atyrau that are purchased under the state program should cost no more than 25 million tenge, in other regions - 15 million.

The first mortgage loan under the program "7-20-25" was given out in the Karaganda region.