Cabinet approves the mortgage procedure

Jun 4 • Construction, Economy, Featured, Real Estate, State Affairs • 3767 Views • 1 Comment on Cabinet approves the mortgage procedure

1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 5.00 out of 5)


The government approves the new long awaited mortgage procedure. The new procedure will cover apartments that are less than 80 square meters and already commissioned or old ones. The mortgage will have a AER of %8+ up to 20 years. The pre-payment will be around 10-30%. The subsidization will be coordinated by the cabinet’s policy.

The government is promising that the mortgage will be available to everyone who has a permanent job that can be pay off the debt in 20 years. It will not create an oversubscription in a single bank because it will be available to any commercial bank that has an agreement with Bank of Mongolia.

The monthly payment is assumed that the it will not exceed the household income’s 45%. The previous mortgage purchasers can switch to the new mortgage after 7 months.

23.8% of the country or 40% of Ulaanbaatar’s population is living in a centrally heated apartments and others are living in yurts or ger districts. The person who has a knowledge with the matter stated that the mortgage will be issued within this month.

The government stated that 360 billion tugriks will be loaned out to the construction companies before the banks start issue mortgages.

President of Bank of Mongolia stated that the effect on the economy will be increased monetary circulation by 30-40% in the country. The money will be concentrated not on purchasing unnecessary goods, but into Social Insurance Fund. It will keep the price levels from raising he added.

Related Posts

One Response to Cabinet approves the mortgage procedure

  1. Hi,

    Would you be interseted to discuss about the Construction Industry Professionals Database?

    which includes complete contact details and verified email addresses of – Boring,Drillers,Cable Ploughing,HDD,Constructors, Home owners, Apartment owners, Remolders, Surveyors, landscape construction, Utility Contractors, Pipelines, Tunneling, Roofers, Floorings, Property owners, Architects, Engineers, Interior designers, Builders, HVAC Contractors, Remodelers, Mortgage brokers, Real Estate professionals and many more across US/UK/CANADA, Europe and all over the world.

    If your target audience is not mentioned above, kindly let me know.

    Please send me your exact target audience (Geographic Location / Business Vertical / Job Titles), so that I can give you more information, Counts, Pricing as well as few samples, just for your review.

    Target Industry : _____________ ;Target Geography : ______________;Target Job Title : _________________

    Looking forward to continued success with you !

    Best way to reach me via Email.

    Best Regards,

    Vanessa Williams
    Online Marketing Manager
    PH No: 800 710 7023

    Other Industries :- Drilling,Pipe Line, Manufacturing, Health Care, Mining, Transportation, Manufacturing, Finance, Insurance, Food & Beverage, Hospitality, Construction, Publishing and Printing, Pharmaceutical,Semiconductors, Security Etc

    If you do not wish to receive future emails from us, please reply as ‘leave out’

Leave a Reply

Your email address will not be published. Required fields are marked *

« »