Mortgage loan for individuals without an official source of income.

№

Parameter

Conditions

1

Client (Borrower)

Citizens of the Republic of Uzbekistan with informal sources of income

2

Credit Purpose

Purchase of commissioned residential property (with cadastral documents) on the primary or secondary market

3

Income

Individual (physical person):

· Official remittances from abroad — 100%; (may be directed to the labour migrant personally, their spouse, or a parent/child residing at the same address, i.e. the person receiving the remittance);

· Dividends — 100%;

· Rental income registered on the tax platform — 100% accepted as income.

Individual entrepreneur:

· 20% of account turnover is accepted as income.

Self-employed individual:

· Receipts reflected in tax accounts and KATM platforms — 100%;

· For self-employed individuals — receipts to bank accounts, including bank cards, over the last 12 consecutive months (monthly receipts, taking into account the mortgage loan being disbursed, must be at least 2 times the average monthly payments) are accepted as income.

4

Funding Source

"Uzbekistan Mortgage Refinancing Company" JSC

5

Amount

For the Republic of Karakalpakstan and regions — up to UZS 550,000,000;

for the City of Tashkent and New Tashkent area — up to UZS 1,000,000,000.

6

Term

From 120 to 180 months

7

Down Payment

At least 35% of the value of the property being purchased

8

Annual Interest Rate

21.99%

9

Loan-to-Value Ratio

LTV≤65%.

* For secondary market property, the lower of either the value assessed by an independent valuation organisation or the sale and purchase agreement amount is taken as the property value.

10

Repayment Method

Annuity or differentiated method (without grace period)

11

Credit Disbursement

— For secondary market purchases: transferred to the seller's bank card.

— For primary market purchases: transferred to the bank account of the developer (contractor).

12

Monthly Income

Income (a minimum of 12 months of income history is reviewed)

13

Collateral

Residential property (apartment) being purchased with the credit

14

Property Insurance

The term of the insurance agreement and policy must be proportional to the credit term, and the insured amount must equal 100% of the replacement value of the property.

(The insurance amount must equal the sale and purchase agreement amount.)

15

Age Limit for Borrowers/Co-Borrowers

Citizens of the Republic of Uzbekistan aged 18 (eighteen) to 60 (sixty) years as at the date of application.

16

Documents Required from Borrower

1. Passport or national ID card;

2. Bank certificate confirming the availability of down payment funds (where the down payment has been transferred directly to the contractor's account for primary market purchases — a document confirming the transfer);

3. A copy of the certificate of state registration of the right to the property, or an extract from the State Register confirming state registration of ownership rights, or another document evidencing the right to the property;

4. Preliminary sale and purchase agreement between the seller and the buyer;

5. Property valuation report;

6. For self-employed individuals — a certificate of registration as a self-employed person and a document confirming payment of social tax.

17

Debt Service Ratio of Borrower and Co-Borrowers

Must not exceed 50%

18

Environmental and Social Management System (ESMS)

Mortgage loans may be granted for residential properties with asbestos (chrysotile)-cement roofing (slate), subject to compliance with the requirements of the Environmental and Social Management System.

Each mortgage loan must be reviewed in accordance with the ESMS.