The memory book of the mortgagor.
After you was lent the mortgage credit, you must remember that there is 3 main rules.
1. To make the monthly payment in time.
The rules of the monthly payment on the mortgage credit were described in details in the contract of the mortgage. Besides we inform you that the monthly annuity payments are made according to the payment schedule that is the content part the contract of the credit. The mortgagor must inform the bank in written form within 10 days, about a situation of negative influence on the payments of the debt (loosing the payment ability and etc). The boaster money, which is double interest rate must be paid according to the late payment day and the unpaid part of the interest rate in case of late payments.
Please be attentive!
2. To pay the insurance fees in time
Insurance - the integral part of every mortgage contract. There are 3 insurance types for grating the mortgage lending according to the mortgage lending of AMF:
• the insurance of the mortgaged real estate;
• the life insurance of the mortgagor;
• the insurance of mortgagor against losing work ability.
The insurance is signed for the benefit of the Creditor for at least 1 year. You must lengthen the period of the contract or sign the new one and present the documents that confirm it to the Bank, when there are 2 months left for terminating insurance contract period. The payable amount of the insurance for the next year must be equal to the main debt residual under the mortgage credit. You should remember, the late payment of the insurance fees, results in termination of insurance contract!
3. To inform the Bank about change in any information concerning mortgage lending
Your any actions about the mortgage lending must not contradict the conditions of the mortgage contract, especially:
• To make the mortgage repeatedly charged;
• To rent or to alienate the mortgage subject without consent of the bank.
If you get new identity card or change your surname, you should present to the Bank documents that confirm these changes (marriage contract and identity card), including copies of them.
You can send questions about the liabilities on mortgage credits to the e-mail info@amf.az