Eligibility criteria

In order to be eligible for refinancing provided by an UzMRC, PFIs must meet the following criteria:

Eligibility criteria


Mortgage Lending Experience

At least 3 years (or a prepared plan to start working in the mortgage finance sector within the next 12 months).

Guaranteed placement and service platforms

Appropriate lending policies and home finance strategies.

Home loan financing potential and commitments

Employees have undergone training provided by UzMRC, CBU or other specialized organizations. A specialized department or subdivision of the credit department dealing with mortgages.

Financial and operational eligibility criteria

Compliance with all applicable prudential regulations and CBU regulations, for example:

(a) a minimum capital adequacy requirement;
(b) accounting for profit;
(c) classification of loans and provisioning;
(d) problem loan ratios for the home loan portfolio and the total loan portfolio; and
(e) requirements to combat money laundering.

PFIs should also:
(a) maintain financial stability;
(b) act in accordance with sound financial principles and practices (for example, prepare unqualified audit reports in accordance with IFRS guidance over the past two years);
(c) maintain credit and investment policies that are acceptable to ADB and CBU; and
(d) supervise and monitor the implementation of investment projects by borrowers.

Corporate governance

Confirmed implementation of CBU corporate governance measures that facilitate effective identification, monitoring and management of all material commercial risks; systems of compliance with all legal and regulatory requirements; financial disclosure requirements for market participants and observers; goals, strategies and methods of corporate governance.

Information activities

Proven ability to provide mortgage loans nationwide as evidenced by branch transactions, lending data, and more.

Risk management procedures

The necessary ability to manage risk through appropriate processes and / or procedures that cover the following:

(a) credit risk;
(b) risk in relation to asset and liability management;
(c) market risk (for example, interest rate risk and foreign exchange risk); and
(d) operational risk.

Compliance with guarantees

Systems management social and environmental issues guarantees for implementation monitoring correspondences ADB's policy in the region social and environmental issues guarantees.


All Mortgages refinanced by UzMRC must meet the following eligibility criteria: 

Standard loan

The cost


1. For the purchase of an existing residential property to be occupied by the owner;
2. For the purchase of a fully commissioned residential property to be occupied by the owner; or
For the renovation of a residential property occupied by the owner and does not involve structural alterations or expansions.

Type of eligible property

Single house or apartment in a multi-unit building. Mortgage financed property must be occupied by the borrower.

Houses that are not ready for occupancy are NOT considered as eligible.

Eligible borrowers:

Individuals with stable source of income including civil servants, self-employed or salaried people. 

Mortgage loan limit:

UZS 400 million for house purchase mortgage loans, 


UZS 80 million for renovation mortgage loans.

Tenor of mortgage loans:

For the purchase of a residential property:

Minimum tenor of 10 years, maximum 20 years

For the renovation of a residential property:

Maximum tenor of 10 years.

Interest rate structure (PFI`s margin):

Mortgage interest rate must be fixed rate. The PFIs will on-lend these funds to end-borrowers at a maximum spread of 5% for house purchase mortgage loans, and 4% for renovation mortgage loans.


Minimum 25% of the purchase price of residential property.

No down-payment required for renovation mortgage loans.

Loan–to-Value Ratio:

LTV ≤ 75%.

Maximum 75% of appraised value or purchase price of the residential property, whichever is lower. 

Maximum monthly household net income of the Borrower and any co-borrower living in the same household:

UZS 15 million.

(If the monthly net income of the borrower is not enough, only cohabiting household members can be involved as co-borrowers).

Debt-to-Income Ratio (Monthly repayments as a percentage of the net monthly household income):

Maximum 50% of net monthly household income of the Borrower and any co-borrower living in the same household 

 (Taking into account the total current loan payments of the borrower and co-borrower).

Mortgage loan repayment:

Monthly repayments, fully amortized, on annuity basis, no grace period.


Financed property.

Borrower age:

18 years or older.

Geographical Concentration:


Credit history:

Is not in the delinquent status (overdue of principal or interest for more than 30 days) and all repayments are up to date at the time of financing or refinancing of the Qualified Mortgage.


All loans submitted must be current and have no unpaid balances.

Property insurance:

Required, 100% of value of the property.

Appraisal of the residential property:

Conducted by a licensed independent appraiser.

Second mortgage Loan:

Not permitted. 

The following points are considered as "Second mortgage loan":

 - Second mortgage loan on the same residential property.

 - If there is any current outstanding house purchase mortgage loan on the credit history.

Environmental and Social Management System (ESMS):

(certain issues)

Asbestos (chrysotile)-cement roofing (slate) houses can be given a mortgage loan in compliance with the requirements of the ESMS.


At least 35% of mortgage loans should be provided to female borrowers.


Ratio of outstanding loan portfolio to refinancing amount:

At least 125%.


UzMRC reserves the right to make changes to the Eligibility Criteria, and such changes will not be retrospective.