Mortgage “Orda” provided by KMC

Our subsidiary, Kazakhstan Mortgage Company, has announced about the startup of a new mortgage lending program “Orda”. The service will be available by the end of October 2018.

The new mortgage will provide an opportunity to purchase real estate in the primary and secondary housing markets for all citizens of Kazakhstan, regardless of whether they own any other housing. Lending will be provided by means of second-tier banks, which will act as partners of “MI “KMC” JSC in attracting and granting of loans to consumers.

In case of full confirmation of financial solvency, the mortgage loan rate for borrowers will be 12% per annum, with partial confirmation of earnings - 14% per annum. The maximum loan amount is 40 million KZT, the minimum - 1 million KZT. Loan term is up to 20 years. Mortgage will be available in 16 cities of Kazakhstan. A borrower can be any citizen of Kazakhstan at the age of 21 years. At the time of loan repayment, the age of the borrower or co-borrower must not exceed the retirement age.

“Orda” mortgage involves making a down payment from 30% of the cost of housing with full confirmation of earnings and from 50% with partial confirmation. In this case, the down payment may be replaced by an additional pledge in the form of real estate owned by the borrower or third parties.

As Adil Mukhamedzhanov, Chairman of the Management Board of “MI “Kazakhstan Mortgage Company” JSC noted at the meeting with journalists, this type of mortgage will improve housing conditions for many people in Kazakhstan. The optimal remuneration rate, adjustable loan period and down payment amount, the possibility of partial confirmation of earnings, as well as a considerable maximum loan amount are flexible conditions necessary in the market today. Borrowers, choosing the most convenient primary parameters, will be able to determine an acceptable monthly payment and purchase almost any favorite home.

Having experience in promotion of mortgage products through partner banks in the framework of “Subsidizing of the remuneration rate on mortgage loans” field of “Nurly zher” state program implementation, KMC intends to use the same working scheme with second-tier banks: the client chooses an apartment independently and contacts the bank partner, it accepts the necessary documents and sends a petition to KMC, which, in turn, verifies the borrower's financial solvency and gives its decision to the bank. The term of the application consideration will be no more than three working days, except as specified by the program. If the loan is approved, the Mortgage Company will act as a pledger and lender.

About program 

State Program for Infrastructural Development for 2015 - 2019

About program 

About program