Mortgage Loan Program “Sharq bahori”
Private Joint-Stock Bank “Trustbank” has launched the issuance of mortgage loans to individuals for the purchase of apartments (on equity participation terms) in the residential complex “Sharq bahori” under construction by the State Institution “Directorate for the Construction of New Tashkent” on the territory of Yukori Chirchik and Urta Chirchik districts of Tashkent region adjacent to the city of Tashkent, with a total area of 19,720.9 hectares.
|
№ |
Indicator |
Terms and conditions |
||
|
1 |
Borrower |
Individual (citizen of the Republic of Uzbekistan) |
||
|
2 |
Purpose of the credit |
Purchase of residential property (apartment) in the “Sharq bahori” residential complex constructed by the Directorate for the Construction of New Tashkent |
||
|
3 |
Maximum loan amount |
Up to UZS 600.0 million |
||
|
3.1 |
Depending on funding source |
From the Ministry of Economy and Finance funds |
From the Ministry of Economy and Finance funds |
|
|
Up to UZS 420.0 million In case of changes to the maximum refinancing amount per Presidential Decree, Resolution and/or Cabinet of Ministers Resolution, the limit shall be adjusted accordingly. The remaining portion of the apartment cost is covered by the borrower’s own funds. |
The remaining portion of the apartment value |
|||
|
4 |
Loan term |
Up to 240 months |
||
|
5 |
Down paymentFrom the Ministry of Economy and Finance funds |
From the Ministry of Economy and Finance funds |
From the Ministry of Economy and Finance funds |
|
|
15 percent |
20 percent |
|||
|
(payments made based on auction results toward apartment value may be credited as down payment) |
||||
|
6 |
Annual interest rate |
With permanent income |
For self-employed |
|
|
6.1 |
Interest calculation (fixed/variable) |
Variable: If the borrower fails to pledge the apartment within 20 days after cadastral documentation and state registration, the annual interest rate (until pledging) increases to 25%. This condition must be stipulated in the loan agreement. |
||
|
7 |
Average monthly income of borrower/co-borrowers |
Determined based on: - salary certificates (last 6 months); - pension statements; - accumulated pension contributions; - tax payments/annual income declaration; - bank account inflows (last 6 months); - 20% of turnover on the main account of an individual enterpreneur; - self-employed income statements (not accepted for co-borrowers); - other legally permitted income. Seasonal workers may provide income records for at least 3 months out of last 6 months (per Cabinet Resolution No. 758 dated 14.11.2024, Annex 9). Income is calculated net of taxes. |
||
|
8 |
Age requirement |
At application date: 18 to 60 years inclusive (must not exceed 60 at refinancing by the Ministry of Economy and Finance) |
||
|
9 |
Eligibility criteria for borrowers/co-borrowers |
Permanent employment and sufficient income for monthly payments; Debt burden ratio not exceeding 50%; No overdue debts in banks/other lenders; First-time use of mortgage under this program (credits before May 1, 2024 not counted) |
||
|
10 |
Housing handover (pledge) |
By December 31, 2026 |
||
|
11 |
Loan repayment |
Annuity or differentiated method |
||
|
12 |
Number of co-borrowers |
Up to 3 persons |
||
|
13 |
Collateral |
The apartment purchased with the loan funds Until cadastral registration and pledging: 1. Insurance policy covering credit default risk (matching construction completion term). 2. Guarantee from the Directorate for New Tashkent Construction for at least 125% of loan amount. After cadastral registration — replaced by mortgage on the apartment. |
||
|
|
||||
|
14 |
Other terms |
If the borrower delays payments for 90 consecutive days before the apartment is pledged to the bank, the bank may: - terminate the mortgage agreement unilaterally, and - repay the loan using funds of the New Tashkent City Construction Directorate Self-employed borrowers must fully pay social taxes |
||
