Kazakhstan allocates 100 billion tenge for 7-20-25 mortgage programme in 2027

The Kazakhstan Sustainability Fund said 100 billion tenge has been allocated to finance the "7-20-25" mortgage programme in 2027. NUR.KZ reported the news, citing a message from the fund. According to the fund, the board of the National Bank approved financing for the programme in 2027 of up to 100 billion tenge inclusive. The quarterly financing volume will not exceed 25 billion tenge.

As the programme operator, the fund will buy rights to mortgage loans issued under the programme's conditions from second-tier banks, within the set limit. Banks will issue the mortgage loans themselves, after which the fund acquires the rights to them. The fund said no preliminary financing of banks is envisaged.

The programme allows buyers to purchase newly commissioned housing on the primary market. Its main conditions include a nominal interest rate of 7% per year, a down payment of at least 20% of the property's cost and a maximum loan term of 25 years. Participation in the programme is allowed once.