Uman NUH | today: 12/22/2024
| Author(s) |
Мельник К. М., , , Kolotukha S.M., Candidate of Economics, , Uman National University of Horticulture, Ukraine |
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|---|---|---|---|
| Category | Economics | ||
| year | 2022 | issue | Issue number 101. Part 2 |
| pages | 54-64 | index UDK | 336.77:332 | DOI | 10.32782/2415-8240-2022-101-2-54-64 (Link) |
| Abstract | Mortgage crediting is essential for the socio-economic development of the state, because, first of all, it is an effective tool for combining the financial market with the housing construction market, which contributes to the capitalization of funds, and also, it contributes to the development of the real estate market, solving the housing problem, maintaining social stability. Especially when it comes to young people, the future, first-residence purchases at affordable prices. According to the results of the research, it was found that the main obstacle that inhibits the development of mortgages is the high cost of credit resources, along with low incomes of the vast majority of the country's population. It was found that in general structure of consumer loans provided the mortgage loans accounted for 59.4 % in 2016, after decreased sharply and in 2021 amounted to only 13.4 %. The decrease in demand for consumer lending was due to a decrease in spending on durable goods and purchases of foreign currency. Decreasing consumer confidence and household savings played a key role in the reduced demand for mortgages. It has been proven that the intensive development of mortgages requires consistently low interest rates that do not create an excessive financial burden on borrowers over the long term of loan repayment. The review of bank real estate crediting programs showed that the maximum term of lending under bank loan programs is 20 years, and the largest amount of credit funds – UAH 2 million, first installment is 15 % of the value of the mortgage. Consideration of government mortgage support programs shows that they are functioning, but are able to meet the demand of only a small number of families who meet the requirements of the program and have an urgent need for housing. As a result, the main sources of funding should be funds raised through the refinancing mechanism that is the use of mortgage securities. | ||
| Key words | mortgage, mortgage loans, living space, housing value index, lending programs | ||