Mortgage Loan Program “Sharq bahori”

№

 Indicator

Terms and conditions

1

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

Up to UZS 600.0 million

3.1

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

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
     17 percent

 For self-employed
     18 percent

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