Program of refinancing of residential mortgage loans extended
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In connection with the COVID-19 pandemic and introduction of strict quarantine restrictions in 2020, as well as the difficult epidemiological situation in the current year, the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market on July 16, 2021 made a decision (Resolution of the Board of the Agency of the Republic of Kazakhstan dated July 16, No. 81 on amendments to the Program for Refinancing Housing Mortgage / Mortgage Loans) to extend the period for providing additional financial assistance to mortgage borrowers until November 1, 2021, Kazpravda.kz reports with reference to the official website of the department.
Currently, additional financial assistance measures are provided to borrowers in the category of socially vulnerable segments of the population (SVSP), whose loans are secured by the only housing and were refinanced under sections 1 and / or 2 of the mortgage / mortgage loans refinancing program dated April 24, 2015 No. 69, as well as whose housing was transferred to the bank's balance sheet.
By the decision of the agency's board, a number of additional amendments were made to the program aimed at extending the deadline for submitting documents to banks and simplifying the process of obtaining additional assistance by borrowers.
To cover a larger number of mortgage borrowers and give them time to prepare a package of documents to banks, the deadline for borrowers to apply for additional assistance under the program has been extended until October 1, 2021.
In order to facilitate the process of collecting a package of documents, the agency reduced the list of names of documents submitted by borrowers to the bank for considering the issue of providing them with additional assistance from 11 to 7.
The agency's website contains contacts of employees of banks and organizations for interacting with borrowers and a list of documents required to consider the issue of providing additional assistance to mortgage borrowers. Also on the website www.fingramota.kz there are answers to frequently asked questions about the program with a "feedback" function and the ability to ask a question on the terms of the program.
For reference: The program is aimed at refinancing mortgage loans from 2004 to 2009, as well as loans in foreign currency issued before January 1, 2016. The program consists of three sections (stages), for implementation of which the National Bank has allocated 286 billion tenge.
Under section 1 of the program, 28.3 thousand loans were refinanced in the amount of 174.5 billion tenge, debts of borrowers for interest, commission, and forfeit in the amount of 159.5 billion tenge were forgiven.
In 2020, in the implementation of section 2 of the program, the conversion of 13.8 thousand foreign currency mortgage loans in the amount of 132 billion tenge was completed. The debts of borrowers for remuneration, commission, and forfeit in the amount of 109.3 billion tenge were forgiven.
Within the framework of section 3 of the program, additional assistance measures were provided to 4.6 thousand borrowers related to the SVSP, in the amount of 19.2 billion tenge.
For protection of the rights of consumers of financial services, you can contact the call-center at the number: +7 (727) 237 10 00. Working hours: from Mon. until Fri, from 9.00 to 17.00.