When replying to ArmInfo correspondent's question, Gabrielyan said that the new company with an authorized capital of 3 bln AMD will shortly be registered by the CBA, which will be its shareholder. According to him, the given company will work under the same scheme as the National Mortgage Company (NMC), however the new company will be socially-oriented. Gabrielyan said that to implement the given state program, the new mortgage company will involve the Armenian banks currently working with NMC.
Gabrielyan added that within the frames of the mortgage state program, loans will be provided for acquisition of housing throughout Armenia, moreover, the real estate should not exceed 16 mln AMD, and the prepayment is 30% of the housing value. The redemption period will be up to 10 years, the subsidized interest rate - 8-10% p.a. Contenders for the loan under the state program are the family couples whose summary age does not exceed 60 years, at the same rime each person shouldn't be older than 35. In addition, a single parent under 30 may also make use of the program.
To receive the loan, the monthly budget of the young family is to be 300-380 thsd AMD, of which 35% (130-160 thsd AMD at the mean) are to be directed to redemption of the loan every month. "The research held shows that Armenia has a population layer that may be satisfied with the conditions of the given program",- he said and added that the applications may be filed starting late February.
To note, under conditions of the 101 thsd AMD average salary in Armenia, the young families' relatives may help them to redeem the loan.
To recall, as of the beginning of 2010, NMC has general agreements with 12 commercial banks and 2 credit companies: ArmBusinessBank, ARARATBANK, Armeconombank, Artsakhbank, Anelik Bank, Areximbank-Gazprombank Group, Ardshininvestbank, VTB Bank (Armenia), HSBC Bank Armenia, INECOBANK, Cascade Bank, Byblos Bank Armenia, as well as the First Mortgage Company and Washington Capital.