State preferential mortgage loans program may be resumed in Ukraine

10.09.2015 09:14 "Agro Perspectiva" (Kyiv) — The Ukrainian Ministry of Regional Development, Construction, Housing and Utility Services is going to launch State programs of preferential mortgage lending, in particular, lending program «For the Youth» and «Affordable Housing», which will help bring the housing market out of stagnation, UNIAN says referring to the Ukrainian Regional Development Deputy Minister Roman Abramovskiy report. «We suggest the Verkhovna Rada to adopt amendments to the legislation and to set an interest rate under the youth lending program at 10% … we also want to resume funding under the „Affordable Housing 70/30» program," Abramovskiy admitted. As to the report, the Ministry estimates the funding needs under the programs about UAH2 milliard (UAH1 milliard for each program). Besides, Abramovskiy admitted the initiative would also help bring Ukrainian real estate market out of stagnation. As to an earlier report, in early May, the Ukrainian Regional Development Ministry suspended signing new contracts under the program targeted at partial compensation of interest rates on commercial banks loans for young adults for housing construction and purchase due to lack of funds.

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