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Government To Ease Conditions Of Flats For Young Families: Karamyan

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  • Government To Ease Conditions Of Flats For Young Families: Karamyan

    GOVERNMENT TO EASE CONDITIONS OF FLATS FOR YOUNG FAMILIES: KARAMYAN

    Tert.am
    17.05.10

    A government-implemented mortgage project Flats for Young Families
    facing problems in practice, Deputy Minister of Sport and Youth
    Policy of the Republic of Armenia, Arsen Karamyan said at a press
    conference today.

    "We have said after the program was launched that it should be
    considered a pilot one," said he, adding that the program needs
    some changes.

    According to Karamyan, as soon as those changes are made, the
    beneficiaries will be offered easier terms. The new terms will refer
    to the prepayment, payoff deadline and age restrictions. Particularly,
    the government will offer the beneficiaries to pay 25% prepayment
    instead of the current 30%; as well we extend the time for the payoff
    from 10 years to 15 years.

    "There will be more applicants as soon as the term is eased," said
    Karamyan, adding that about 20 families have been given flats, while
    the 60 applications are still under review.
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