Applicants whose loan payments were more than 90 days overdue during the previous 12 months will be barred from Azerbaijan’s state-backed rent-to-own housing program, an official has said.
The threshold was detailed by Aslan Zeynalov, deputy director of the rental housing department at the Mortgage and Credit Guarantee Fund.
Under the revised eligibility rules, the program is open only to applicants whose credit history is rated positive or satisfactory. The Fund will examine both an applicant’s credit record and income before determining the maximum affordable monthly payment.
What Counts as a Negative Credit History
A payment obligation overdue by more than 90 days during the previous 12 months results in a negative credit-history assessment, according to the criteria explained by Zeynalov.
The rule applies to applicants seeking an apartment through the mechanism under which a tenant makes monthly payments and obtains ownership after fulfilling the contract.
Applicants must also have no active conventional or subsidized mortgage financed by the Mortgage and Credit Guarantee Fund when they apply.
The credit-history clarification expands on the Fund’s October 21 announcement describing recent changes to the rent-to-own mechanism.
Contract Transfers Delayed to Three Years
The revised rules also lengthen the period before a participant may transfer contractual rights and obligations to another person.
A transfer was previously allowed one year after the contract was signed. Participants must now wait three years.
Anyone who transfers a contract must then wait five years from the transfer date before using the rent-to-own mechanism again. The Fund says the restrictions are intended to improve transparency and prevent misuse of the program.
These provisions took effect on October 1, 2026. Contracts signed before that date are not subject to the new three-year waiting period; participants in those earlier agreements may still transfer their rights and obligations after 12 months.
More Than 10,100 Homes Provided
The Fund’s current data show that 10,102 apartments have been placed into use through the rent-to-own program.
The mechanism was created for citizens whose personal savings are insufficient to purchase a home outright. Applications and apartment selections are processed through the Electronic Mortgage and Credit Guarantee System integrated with Azerbaijan’s e-government platform.
The latest clarification was first reported in Russian by Vesti Baku.