What is the problem of non-payment of rural mortgage?
According to Tejarat News, in late November last year, the president announced an increase in rural housing facilities. The amount of the rural mortgage was 100 million Tomans, which was increased to 200 million Tomans at the request of the Housing Foundation as the custodian of the construction and renovation of rural housing and with the consent of the President.
Akbar Nikzad, head of the Housing Foundation, in an interview with “ایرانReferring to the president’s emphasis on repaying a 200 million toman rural housing loan, he said: “The interest on a 200 million toman housing loan is 5 percent, and the government will pay about 13 percent of the difference in interest (bank interest 18 percent), ie about 13 percent.”
According to the Central Bank, from the beginning of September 1400 to the end of last year, 30,172 rural mortgages have been paid.
The Central Bank also informed the operating banks about the increase of the individual ceiling of rural housing facilities in the amount of 200 million Tomans. However, in order to repay the loan, it is necessary for the necessary guarantee to be provided by the State Planning and Budget Organization in the form of subsidies and with the guarantee of the government.
Regarding the problems of rural mortgage facilities, the head of the Housing Foundation says: “Some officials oppose giving a 13% subsidy to the 200 million Toman rural housing loan and believe that this amount will put a financial burden on the government.”
According to Nikzad, 100 million rural housing loans are currently being granted to applicants. Of course, mortgages are not offered in one go and are offered in five stages according to the progress of construction.
The head of the Housing Foundation added: “Considering that the president emphasizes the payment of rural mortgages in the amount of 200 million Tomans, the problems of paying this loan will be solved soon and the loan will be granted to the applicants.”
The issue that the head of the Housing Foundation has announced as the problem of paying the rural mortgage is in fact the failure of the organization to send a letter focusing on guaranteeing the principal and interest, the difference between the announced rate of 5% and the rate of the Monetary and Credit Council to the Central Bank.