Mortgage rates are high - We have focused on international practice in the above-mentioned mortgage loans. In countries with normal and more socially significant mortgages, mortgages are between 2.8 % and -4.5 %, whereas 8 % of the loans provided by public finance in Azerbaijan and commercial mortgages offered by private banks are between 10 % and 12 % is not the case. Thus, a citizen who has a mortgage of 50,000 manat for 25 years with 8 % should pay AZN 115,000 or AZN 65,000 to the bank with a monthly 386 manats. As you can see, the interest rate is 130 % of the principal amount. If you take into consideration that most of the citizens applying for mortgage in our country are low-income families and want to adjust their lives in this way, the interest received after taking the loan ends 12-15 years of life. In other words, average monthly wage should work to cover one-fifth of the Azerbaijani life of 400 manat (average life expectancy) or 13.5 years of interest. Is it possible to speak of the fairness of mortgage policy? On the other hand, if we make a simple calculation, we will see that in the usual mortgage loans, 166 manats of monthly payment are deducted from the principal debt and 220 manat is spent on interest payments. As we have noted, in the country with a average salary of AZN 400, the mortgage interest rate is 220 manat.
