Mortgage credit

Credits for housing construction, reconstruction and purchase of housing (mortgage credit) are granted by POJSCB "InfinBank" on a contractual basis having observed the principles of timing, purposeful use, collateral, payment and return. Mortgage credits are extended to citizens of the Republic of Uzbekistan. Mortgage credit is extended for the following purposes:

- construction and reconstruction of individual house in compliance with established norms and rules of construction based on individual and model project approved in accordance with the legislation;
- purchase of individual house or apartment in a residential apartment building.

In order to be eligible for credit extension the potential Borrower must meet the following requirements:

- have the citizenship of the Republic of Uzbekistan;
- have permanent right of residence in the place of residence;
- be at the age from 18 to 53 years (women), and 59 years (men). The total credit term is determined by taking into account the fact that credit repayment should be made until the Borrower reashes retirement age - 54 years (for women) and 60 (for men);
- have more than 6 months of working experience in the last workplace and more than 1 year of total working experience;
- have no debts to banks and other financial institutions.

POJSCB"InfinBank" extends mortgage credits under the following terms and conditions:

• credit term - up to 5 years;
• initial contribution - 30-50% of the amount of contract for purchase and sale of real estate;
• interest rate - established at a rate from 19 to 21 percent per annum, depending on the size of borrower’s advance payment;
• collateral – the pledge (mortgage) is executed for the house being purchased, built or reconstructed. Any other real estate owned by the borrower can be taken as a mortgage;

When receiving a mortgage credit the Borrower must pay the following costs:

- single charge for executing the credit in the amount of 0.3% of the credit amount, but not less than UZS 250 thousand;
- state fee for notarization of the mortgage contract;
- costs related with insurance of pledged real estate (mortgage);
- fee for valuation of collateral;
- mortgage contract registration fee;
- costs associated with insurance of life, health and disability of the Borrower for the maturity term of the credit contract;
- payment of independent valuation of credit object.