MORTGAGE LOANS WORTH MNT99.5 BILLION DISBURSED

Between November 2020, and January 25, 2021, commercial banks issued a total of MNT 99.5 billion in mortgage loans to 1,362 borrowers. Of this, 974 individuals received mortgage loans worth MNT 62.3 billion from the funding source of the Bank of Mongolia, while 388 individuals received the mortgage loans worth MNT 37.2 billion from the banks.

In connection with the financial hardship posed by COVID-19 pandemic, the banks are making deferrals on mortgage loan repayment based on the requests of borrowers. As of January 22, 2021, commercial banks received mortgage loan payment deferral requests from 53,180 borrowers in total and have allowed to postpone the repayment of 52,384 borrowers or about 99 percent of all requests.      

Source: https://montsame.mn/en/read/251556