{"id":32472,"date":"2012-01-26T12:33:52","date_gmt":"2012-01-26T12:33:52","guid":{"rendered":"https:\/\/armbanks.am\/2012\/01\/26\/234617\/"},"modified":"2024-12-15T12:54:54","modified_gmt":"2024-12-15T12:54:54","slug":"ranking-of-mortgage-loan-availability-in-armenia","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2012\/01\/26\/32472\/","title":{"rendered":"Ranking of mortgage loan availability in Armenia"},"content":{"rendered":"

YEREVAN, January 26.\u00a0\/ARKA\/.<\/strong> The\u00a0housing question is one of the most fundamental of all social\u00a0problems of Armenia\u2019s citizens.\u00a0People want to purchase a house or improve their living conditions and apply to banks which are practically the only source of receiving mortgage resources.<\/p>\n

In order to shape a clear vision of the situation in the mortgage market of Armenia ARKA news agency attempted to develop a ranking of mortgage loans availability. This ranking is developed by ARKA based on international experience.\u00a0Availability of mortgage loans is determined by three major criteria which are taken into account by borrowers when applying to a bank for a mortgage loan: the interest rate, the size of down payment and the maturity period.<\/p>\n

Proceeding from this the agency has drawn up three ratings for each of the criteria.\u00a0The agency has reviewed the terms applied by all 21 commercial banks operating in Armenia\u00a0 for provision of mortgage loans as of January 23, 2012.<\/p>\n

The ranking was compiled\u00a0 based on mortgage loans issued by banks in national currency from their own funds for purchase of a house.\u00a0It takes into account maximum interest rate on mortgage loans.\u00a0Accordingly, the banks which do not specify in their official websites the maximum interest rate are not included in it.<\/p>\n

The banks which do not provide mortgage loans in drams from their own funds or are not engaged in mortgage lending are not included either. The ranking will be updated depending on changes in the terms of mortgage loans.<\/p>\n

\"Mortgage<\/a><\/p>\n

The rating\u00a0in terms of loan\u00a0interest rate\u00a0availability includes 14\u00a0banks.\u00a0As the table shows, the lowest\u00a0interest rate\u00a0is offered by Converse\u00a0–\u00a012.75%, which\u00a0gives it\u00a0the first position in the ranking.\u00a0VTB Bank (Armenia) and HSBC\u00a0Bank Armenia\u00a0share the second and third places, offering a 13% rate.\u00a0The top five\u00a0also includes\u00a0ACBA Credit\u00a0Agricole\u00a0Bank\u00a0and Armeconombank\u00a0whose\u00a0rates\u00a0are 14%.<\/p>\n

\"Mortgage<\/a><\/p>\n

The rating\u00a0in terms of down payment size includes 17 banks.\u00a0The first two\u00a0positions are shared by Ameriabank\u00a0and\u00a0Anelik Bank.\u00a0These banks demand a 20% prepayment. The other twelve\u00a0banks\u2019 rate is 30%.<\/p>\n

\"Mortgage<\/a><\/p>\n

*data are for months<\/p>\n

The first position in terms of maturity period is held by VTB Bank Armenia, which offers a maturity periods up to 35\u00a0years. The other three positions are shared by\u00a0Armswissbank,\u00a0Artsakhbank\u00a0and\u00a0Byblos Bank Armenia, which offer the maximum maturity of\u00a0180\u00a0months.\u00a0 The ratings were compiled on the basis of data posted on the banks\u2019 official websites as of 23.01.2012. ARKA bears no responsibility for the reliability of\u00a0the information\u00a0on the websites.<\/p>\n

This ranking is not a recommendation\u00a0for\u00a0seeking a mortgage\u00a0loan in a particular\u00a0bank\u00a0and\u00a0can not influence adoption of\u00a0a commercial\u00a0or other decision.-0-<\/p>\n","protected":false},"excerpt":{"rendered":"

The housing question is one of the most fundamental of all social problems of Armenia\u2019s citizens.<\/p>\n","protected":false},"author":1,"featured_media":234628,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12315,9216,13105],"tags":[15837,12313,13106,308],"class_list":{"0":"post-32472","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-announces","8":"category-news","9":"category-ratings","10":"tag-armenia-2","11":"tag-mortgage","12":"tag-ranking","13":"tag-308"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/32472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=32472"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/32472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/234628"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=32472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=32472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=32472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}