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Affordable Mortgage 7%: 1,417 Loan Agreements totalling UAH1.22 billion have been Signed

As of January 13, authorized banks on implementation of the state program "Affordable mortgage 7%" signed 1,417 loan agreements totaling UAH 1.22 billion.

The authorized banks received 1,943 applications for participation in the program for UAH 1.68 billion, of which 22.62% were at the primary market and 77.38% were at the secondary one.

The program involved 25 regions, including Kyiv. According to applications for loans submitted by citizens, the most active regions last week were:

- Kyiv region (31.50%);

- Kyiv city (30.55%);

- Lviv region (6.51%);

- Kharkiv region (5.59%);

- Volyn region (4.00%).

The increase for the week is:

+3% - number of loans and +2% - amounts of loans;

+2% - number of applications and +2% - amounts of applications.

Recently on the governmental portal the decree of the Cabinet of Ministers of Ukraine from October 21, 2021 No 1106 "On amendments to the resolutions of the Cabinet of Ministers of Ukraine from January 24, 2020, № 28 and 29" was published. The draft resolution was elaborated by the Ministry of Finance to attract even more participants to the state programs "Affordable Loans 5-7-9%" and "Affordable Mortgage 7%". The decree also introduced a state program of financial leasing for micro, small and medium enterprises (MSMEs).

In particular, the age restrictions for real estate were abolished (except for real estate in regional centers with a population of more than 1 million people, which must be commissioned or reconstructed not earlier than ten years) and the limit of the possible excess area of the mortgaged property was increased from 20% - to 40% of the standard area paid by the borrower himself.

To date, the program "Affordable Mortgage 7%" involved 21 authorized banks. Banks that have joined the state program, continue improving their own mortgage lending procedures under the updated terms of the program, developing information materials for potential borrowers, staff training, etc.

We draw the attention of potential borrowers that it is the bank's decision to grant credit, using its own methodology to assess the solvency of the potential borrower.