08 May, 2019

Lyazat Ibragimova about Baqytty Otbasy program: Our task is to make payment of housing loan possible

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April 8 at the press conference in the Government’s press center, Chair of Housing Construction Savings Bank JSC Lyazat Ibragimova told about the launch of a new program, Baqytty Otbasy, aimed at supporting large families in purchasing housing.It is reported by the press service of PM.

Ibragimova reported that, according to the instructions of Elbasy announced at the XVIII Congress of the Nur Otan Party, a new direction of the Nurly Zher program — “Baqytty Otbasy” — will be launched in June 2019.

This program was designed for families with four or more children, single-parent families with minor children, families with children with disabilities. As part of this lending, both secondary housing and apartments in new homes can be purchased.

Families with an income of not more than 42,500 tenge per person can participate in the Baqytty Otbasy program. For example, if a family consists of 6 people, their total income should not exceed 255 thousand tenge.

In addition, to obtain a soft loan, the applicant and his family members should not have their own housing at the date of application.

“When we were developing this program, the goal was first of all to provide low-income families, that is, those families that now live in rented apartments, in fact, in strangers, in temporary houses, that is, those families that cannot even save for the initial payment. Therefore, the first requirement is that families should be low-income. Income per family member should be less than 42,500 tenge. That is, if a family the only supplier, for example, a spouse works in the service station, the other spouse does not work, takes care of the children, their income should not exceed 255 thousand tenge. Thus, those people who are currently experiencing problems even with the accumulation of a down payment are the priority,” explained Ibrahimova.

As she noted, since March 2019, the program has been launched in Almaty in pilot mode. Within the framework of the pilot project, large families, registered in a queue in the akimat, were able to receive a loan to purchase apartments in new houses at a rate of 2% per annum with an initial contribution of 10%. In total, 344 applications have been submitted so far. Of these, 330 were approved. Today, two families will sign a loan agreement. In addition, 44 housing certificates of 1 million tenge each, the Almaty City Akimat, has already transferred to deposits of large families, which have already started processing a loan.

The housing certificate mechanism developed by the Ministry of Industry and Infrastructure Development, according to Ibragimova, is a completely new form of social assistance.

“This is when the Akimat, depending on priorities, now the first priority of large families, will allocate up to 1 million tenge of social aid in order to form this initial payment faster,” she said.

Under the terms of the program, the maximum cost of housing should be 15 million tenge. This cost in Almaty has an additional condition — the apartments to be acquired should be in newly built houses.

Explaining why such an amount of the maximum loan size was chosen, Ibragimova noted that it was primarily taken into account that the loan payment was affordable for large families.

“This is primarily low-income families. Our task is to make the loan payment feasible for them. Therefore, the calculation of the maximum cost of 15 million tenge. It implies payment during the first eight years — 76 thousand tenge. Based on this, we did not make large maximum amounts. Our task is for these people to move into their own housing. Yes, it will be small, but for the start, when a person feels like an owner, this will be enough. And most importantly — it will be a feasible payment. It was possible to make 25 million tenge, but then the family will pay 150 thousand tenge, and will they be able to pull this payment?” Said Ibrahimova.

At the same time, she noted that those families who want a bigger apartment can get housing on the terms of rent without the right of redemption. To date, 6 thousand apartments are being prepared for rent without the right of redemption only for large families.

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