New Mortgage Lending Strategy in Ukraine
The National Bank of Ukraine has announced a new initiative in the field of mortgage lending, which aims to establish effective market mechanisms for improving housing accessibility.
This information was disseminated by the NBU press service.
The key objectives of the Strategy include:
- reducing risks through the introduction of comprehensive insurance for wartime threats and improving legislation in residential construction;
- creating a clear and accessible lending system by enhancing state support and information disclosure standards in line with EU regulations;
- strengthening creditor rights protection by updating mechanisms for resolving problematic debts.
"Moreover, further progress in mortgage lending will require the development and implementation of securitization norms and the issuance of covered bonds into Ukrainian legislation," the statement notes.
The implementation of the measures outlined in this mortgage lending strategy rests with the National Bank, the government, and the National Securities and Stock Market Commission.
The Verkhovna Rada will also play a crucial role in ensuring necessary amendments are made to existing legislation.
