“Regulations on State financial support for preferential mortgage loans provided to military personnel who have studied in special educational institutions under the National Defense University, which is part of the structure of the Ministry of Defense” “On measures related to the promotion of youth education in the military sphere” of the President of the country on December 14, 2023 prepared according to the decree dated
Oku.Az reports that the standard is the responsibility of the University Heydar Aliyev determines the requirements and other organizational issues related to the provision of financial support by the State for preferential mortgage loans granted to military nurses who studied at the university level of the Military Institute, including the preparatory course for the university level at the Baku Military College, Ganja Military College and Nakhchivan Military College.
The procedure and conditions for granting subsidized mortgage loans to military personnel provided for in the Regulation are determined by the “Rule for granting mortgage loans, including subsidized mortgage loans, from the funds of the Mortgage and Credit Guarantee Fund”, approved by the Decree of the Head of State dated June 22, 2016. The definitions used in the Regulation have the meaning defined in the Regulation on granting mortgage loans. Its provisions also apply to military personnel who are citizens of the country, studying in special educational institutions of foreign countries on the basis of an interstate agreement and who, after graduation, complete 5 calendar years of active military service as an officer or ensign (midshipman) in the Azerbaijani Army, starting from the 2024-2025 academic year.
Starting from the 2024-2025 academic year, financial support is provided to servicemen studying in special educational institutions and who, after graduation, complete five years of active military service as an officer or ensign (midshipman) in the Azerbaijani Army. Financial support is provided for preferential mortgage loans with a term of at least 15 years for the purpose of purchasing only a residential area for a part of the price of the residential area burdened with a mortgage on the date of the preferential mortgage loan and a part of the monthly annuity payments.
The down payment is made in the amount of 15% of the contract price of the purchase of the residential area acquired using the preferential mortgage loan, not exceeding 15% of the maximum amount of the concessional mortgage loan determined in accordance with the Rule on the provision of mortgage loans. . Financial support for annuity payments is up to 50% of the annuity payments. If a part of the principal amount of the subsidized mortgage loan is repaid before the period specified in the loan agreement or if the debt is restructured, the financial support for annuity payments is determined in the amount of the recalculated annuity payment provided for in this Regulation. .
