July 30, 2021

MP Now News

Mortgage News

Mortgage Services, Registration Now Accessible Online in Kazakhstan

NUR-SULTAN – Mortgage Services are now available online in the Kazakhstan Property Management Database. This was announced by the Kazakh minister for digital development, innovation and space industry, Bagdat Mussin, in July.

The main page of the Egov.kz website that provides public services online.

People can now apply for a mortgage online without going to the banks and collecting documents offline. The project started on July 1st in cooperation with the Freedom Finance Bank. The next step is the digitized home purchase, starting with the registration of the rights and ending with the registration of the pledge withdrawal in August.

“This innovation is being implemented through the use of modern blockchain technology, which is certainly the first to be used in Kazakhstan and probably even worldwide. It is important for us to go cross-platform in order to give every bank access to public services and to switch completely to the online format, “wrote Mussin on his Twitter.

The ministry is now urging banks to switch to this format so that all mortgages and registrations can go online in the future.

Fast registration of the rights to real estate will also be possible, said Serzhan Zhumabekov, deputy chairman of the board of directors of the government of the state company for citizens, at the press conference on July 8th. The submission deadline for documents by the Public Service Centers (PSCs or TsONs) has been shortened to one day.

“The issuance of electronic technical passports for apartments, a room in a dormitory and dachas (summer houses) is one of the most popular services that has been available since December 14th. Approximately 8,000 technical passports have been created and issued since then. We plan to expand this service to large real estate properties, including high rise and residential buildings, non-residential buildings and other real estate properties. The implementation period is December 2021, ”said Zhumabekov.

The automation of the contract with municipal utilities is expected by autumn.

The “Government for Citizens” is the only public service provider in Kazakhstan and offers 659 types of services. The experts noted the increase in online services in the first half of the year. Around 107,000 services were provided via the e-government portal. Social payments are currently also available online.