Kazakhstanis will now be able to get consultations and submit documents for the preferential mortgage programs "Orda Aimak" and "Orda Aimak Plus" at Alatau City Bank branches. A corresponding cooperation agreement was signed between Kazakhstan Housing Company (a subsidiary of the Baiterek holding) and the bank, reports infohub.kz.
Under the agreement, Alatau City Bank will advise potential borrowers on the terms of the programs, accept and verify necessary documents, form loan applications, and send them to KHC for further consideration. This will make the process of obtaining a housing loan more convenient and accessible for citizens.
"Cooperation with partner banks makes the process of obtaining a housing loan more convenient and understandable for citizens. Under the agreement, regional offices of Alatau City Bank become an additional point of interaction with potential borrowers – from consultation and document acceptance to the execution of necessary contracts," noted KHC Chairman Altai Kuzdibayev.
The "Orda Aimak" and "Orda Aimak Plus" programs apply to all under-construction projects with shared equity participation that have KHC guarantees, in all regions of Kazakhstan except Astana, Almaty, and Shymkent. Under the "Orda Aimak" program, the rate is 15.9% per annum (APR from 16.97% to 18.32%). For "Orda Aimak Plus," the APR varies from 11.70% to 16.20% depending on the down payment. For both programs, the down payment must be at least 20%, the loan amount ranges from 2 to 75 million tenge, and the term is from 24 to 240 months (up to 20 years).
Recall that in May it became known that Kazakhstan Housing Company offers developers to attract funds from equity holders with its own guarantee and the new mortgage "Orda Aimak." Moreover, from September 1, the terms of the "Orda Aimak" mortgage will change: it can be obtained with the under-construction apartment itself as collateral, without the need to provide additional property. Since June, the regional program "Orda Aimak Plus" has also been in effect, aimed at purchasing apartments in under-construction residential complexes.