NBU expects mortgage rates to fall below 15% this year

NBU expects mortgage rates to fall below 15% this year

The National Bank of Ukraine (NBU) expects mortgage rates to fall below 15% per annum in 2020, the NBU's press service has reported on Facebook, citing NBU First Deputy Head Kateryna Rozhkova.

"This year, we expect a reduction in mortgage rates below 15% per annum. Three reasons why banks do not want to issue mortgage loans are a moratorium on the recovery of property on foreign currency loans, unprotected rights of creditors, and the non-transparent primary housing market," Rozhkova said.

According to her, in order to stimulate mortgage lending, the country should increase the transparency of the real estate market, tighten developers' liability for violation of the terms of agreements and ensure compliance with state building standards.

Ukrainian President Volodymyr Zelensky said on February 11 that he considered it absolutely realistic to achieve a reduction in mortgage interest rates to 10% per annum. He noted that cheaper mortgages are one of the two main tasks set to help develop a strong middle class in Ukraine and return those who left the country.


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2023 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period: