2665
Lower Interest Rate Mortgage for Newly-Weds
Economy, Business And Markets

Lower Interest Rate Mortgage for Newly-Weds

The government has increased the amount of mortgage loans provided by commercial banks for young couples, while it has reduced the mortgage interest rate as well, a senior official announced on Wednesday.
“The amount of housing loans will increase to 500 million rials ($18,000) for young couples who reside in big cities,” said Mohammad Bagher Nobakht, the government’s spokesman. “The loans will amount to 400 million rials ($15,000) in smaller cities and towns with over 200,000 households.”
For towns with fewer than 200,000 households, 300 million rials ($11,000) of loan facilities will be provided for newly married couples, said Nobakht.
These loans, however, will mainly target couples from “low income groups, as well as single mothers”, according to the spokesman.
The housing loans will be offered at a 10 percent interest rate, while the government is also planning to offer mortgage loans with an interest rate of 9 percent, he said. Such measures can also help pull the housing sector out of recession
Under the 6th Five-Year Economic Development Plan (2016-2020), the government is set to help build annually 300,000 houses, in an attempt to increase the total number of residential units built in a six year period to 108 million.

Short URL : http://goo.gl/rvEJ6U

You can also read ...

Pretoria Hosts South Africa-Iran Business Forum (Photo: AfricaNewsAgency)
The South Africa-Iran Business Forum was held in Pretoria,...
485,000 New Jobs Averaged Annually Since 2013
An average of 485,000 jobs were created every year during...
Furniture Exports on Decline
Iran exported about $6 million worth of furniture during the...
About 1,837 million shares valued at $86.508 million changed hands at TSE on Oct. 23.
Tehran Stock Exchange’s main index lost 134.00 points or 0.15...
The health deal was signed in Iran’s Embassy in London on Oct. 23.
Iran’s Ministry of Health signed an investment and cooperation...
Renault Launches Used-Car Sales Scheme in Iran
Negin Khodro, the local official importer of Renault cars, has...
The fiscal 2014-15 was the worst year for the construction sector in recent memory, with growth rate reaching its nadir at -17%.
The research arm of the Iranian Parliament has forecast a...
Over 14.88 billion shares valued at $1.11 billion were traded at TSE over the past month.
Tehran Stock Exchange’s main index TEDPIX gained 648 points or...

Trending

Googleplus