Mortgage loans and early 2012 were not available to most borrowers for the year became even more expensive - by 2-3 percentage points. Now Mortgages average market costs 22-25% per annum. But the main disappointment of the year was to increase the refinancing rate SMI, which resulted from the market disappeared last relatively inexpensive loans at 15% per annum. Trends Ukrainian mortgage market in 2012, studied Prostobank.ua

Last year began optimistically for unsecured housing Ukrainian families: there was another hope for painless implementation of housing supported by the state, which, however, was another air lock. Thus, a key event Mortgage spring 2012 was the start of the presidential initiative that promised to all who wish to affordable housing. He declared that in May Ukrainian can take credit for housing under a new state program fabulously low 2.3% annual rate in the period of 10-15 years.

Soon MRDC announced details of the program for which it was budgeted 1 billion USD. Although experts doubt react to the possibilities of its implementation, in May 2012 the government still ran concessional lending program under which the Ukrainian could obtain housing loans at 3% per annum for a period of 10-15 years. For the convenience of the borrowers MRDC even created a "one stop shop" where the potential borrower could also meet with representatives of the developer and the bank and apply for a loan. Kyiv City Administration has also supported the president's initiative, promising to pay 100% of the first installment of the loan capital budget employees who work for utility companies of 10 years.

The initiators of the program declared that loans for new housing will get 30 thousand citizens of Ukraine. But according to experts, budgeted billion would be just 1,785 apartments or 3-4 residential complexes. In fact, the number of loans was even smaller. During the first month of the program was concluded only 40 contracts, and by mid-December 2012 had 1,118 loans.
Despite low interest rates, many Ukrainian program was unavailable because of high demands to the official income borrower who had to be sufficient to pay the loan at 16% per annum. In addition, large doubt is the state's ability to pay its share of interest throughout the term of the loan, because in 2009 a similar compensation program stopped.

So the government decided to cut planned for 2013 funding program for more than two-thirds: from 1 billion to 300 million Regarding funding for the program this year, almost two-thirds of the allocated funds - 630 million - Cabinet ordered reallocated to other purposes.

Another disappointment in 2012 in the mortgage market was to increase the refinancing rate mortgages SMI in November 2012. "Is not the only source of cheap mortgage finance - State Mortgage Institution - in late November raised the refinancing rate loans, arguing that changes in the value of financial resources involved in the domestic financial market. This led to rise in such loans to banks. Now the average interest rate that banks offer loan program for SMI is around 21-22% per annum, while in the first half of 2012, these loans were given under 13,5-15% per annum "- says Natalia Kravets, Director of Product Development Bank "Finance and Credit".

Therefore, SMI, which supported the proposal mortgage programs even with the lack of liquidity in the banks in late 2012 could not cope with this task. Banks Partners SMI to the end of the year began to leave the market. If the program available 5-20 years, the number of institutions doubled from 6 to 12, after the policy change rates SMI left nine banks. Program for a period of 25-30 years at the beginning of the year offered five banks by summer that number has grown to eight, and in the fall dropped to six.

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