The program of preferential lending “affordable mortgage” provides lending at rates ranging from 5 to 7% per annum in the amount of up to UAH 2 million.
According to Ukrinform, Finance Minister Serhiy Marchenko said this in an interview with the Ministry of Finance portal, the ministry’s press service reports .
“A completely new story is expected in the availability of citizens to buy housing. A special company is being set up, which will be recapitalized by the government and will be able to ensure the creation of financial and credit mechanisms, namely to launch mortgage lending and financial leasing for housing on acceptable terms. It is planned that such loans will be provided in the amount of up to UAH 2 million at low interest rates, from about 5 to 7% per annum for a period of 60 to 240 months, “said the Minister.
He noted that the down payment should be at least 20%. The program also provides for certain requirements for housing and space restrictions: no more than 52 square meters per person. This is primarily a primary housing market. Read also: Zelensky: Some banks already give mortgages at 10%
“The second direction is financial leasing for up to 20 years with an interest rate of about 5% per annum and without paying the down payment. This area of funding will be used to preserve jobs, assist in providing housing for the military, police and other officials. In total, at the first stage it is planned to provide 12.5 thousand mortgage loans and purchase 18.8 thousand apartments under financial leasing. In the future, we will develop and seek additional sources of funding to expand programs, “said Marchenko.
As Ukrinform reported, the project on affordable mortgage lending was announced by President Volodymyr Zelensky as a priority in early 2020. Read also: PrivatBank launches a mortgage at 9.99% per annum
The state program “Affordable Housing at 10%” started in early July.
According to the Deputy Head of the Office of the President Yulia Kovalev, five banks are already participating in the program of affordable mortgage lending for the population at 10% . Among them – both state and commercial. In the first two months of the program’s existence alone, more than UAH 350 million in loans were issued, and the first 400 families have already been able to take advantage of this mortgage.
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