The state mortgage program "yeOselya" covers up to 98% of all mortgage loans on the primary housing market

The state mortgage program "yeOselya" covers up to 98% of all mortgage loans on the primary housing market, while joint programs between banks and developers account for only up to 2% of loans.

This was stated by Olena Dmitriieva, First Deputy Chairperson of the Management Board of GLOBUS BANK.

She noted that no commercial bank currently offers citizens more favorable or competitive mortgage terms than "yeOselya."

Olena Dmitriieva explained that mortgage rates have remained nearly unchanged throughout 2024. Depending on the down payment and loan term, the average rates are as follows: 7% to 12% annually (for a 3-year mortgage), 11% to 14% annually (for a 5-year mortgage), and 4% in the first year followed by 19% in subsequent years (for a 20-year mortgage).

The expert highlighted the key areas for the further development of mortgage lending in Ukraine:

• Expanding the pool of program participants, including domestic and foreign financial institutions and developers.
• Developing an effective accreditation mechanism for projects in early construction stages, with significant reliability guarantees for buyers (to mitigate the risks of long-term construction delays and fraud).
• Further easing conditions for borrowers, including potential mortgage rate reductions (depending on economic and wartime factors).

"The ability of the economy to cover budget expenses while gradually reducing dependence on macro-financial aid from foreign partners is a highly complex task. Its success depends largely on an effective economic strategy combined with the successes of the Armed Forces of Ukraine, countering missile and drone attacks, and maximizing the protection of citizens and infrastructure from damage. Therefore, the future of Ukrainian mortgages will be tied to both economic and military factors," Olena Dmitriieva concluded.