The procedure for calculating the income of those who want to take a mortgage loan has changed

The procedure for calculating the income of those who want to take a mortgage loan has changed
The Cabinet of Ministers has amended the "Rule for calculating the monthly total income of the borrower (borrowers) for mortgage loans, including subsidized mortgage loans, provided at the expense of the funds of the Mortgage and Credit Guarantee Fund", approved by its decision dated November 16, 2016.

Qazet.az reports that Prime Minister Ali Asadov signed a new decision in this regard.

According to the decision, the income of the borrower (borrowers) from the salaried work of the mortgage loan, including the subsidized mortgage loan, along with the "Insurance" subsystem of MEIS, as well as the "Employment contract notification" subsystem and tax, labor, insurance, including social insurance and will be determined based on other supporting documents determined by banking legislation, and the average monthly income of the borrowers whose salary has been reduced will be calculated according to their real income after the date of the change.

The purpose of the decision is to increase people's opportunities to benefit from mortgage loans, and to improve the work of analyzing the income and expenses of people who want to get mortgage loans.