Mortgage lending in October remained at September level - UAH 1.6 billion

In October, Ukrainian banks issued 809 mortgage loans for a total amount of UAH 1.6 billion.

This is evidenced by the data of the monthly survey of banks on mortgage lending, Ukrainian News Agency reports.

Briefly about the survey results:

- 486 loans for UAH 972 million were provided in the primary real estate market, of which 138 for UAH 257 million were provided under the collateral of property rights to future real estate;

- 323 loans for UAH 632 million were provided in the secondary real estate market;

- the weighted average effective rate was 8.2% per annum in the primary market and 9.4% in the secondary market;

- the quality of the mortgage portfolio is good: the share of non-performing loans decreased to 11%.

In terms of regions, the largest number of mortgage loans in October was issued:

- in the Kyiv Region (309 contracts for a total of UAH 638 million, or 40% of the total);

- in the city of Kyiv (155 contracts for UAH 348 million);

- in the Ivano-Frankivsk Region (44 contracts for UAH 77 million);

- in the Lviv Region (35 contracts for UAH 73 million);

- in the Vinnytsia Region (35 contracts for UAH 64 million).

During the survey, 38 banks with a share of over 95% of the total gross mortgage portfolio responded, of which 14 banks reported issuing new mortgage loans.

As Ukrainian News Agency earlier reported, the Financial Stability Council approved the Strategy for the Development of Mortgage Lending, aimed at developing market mechanisms in this market segment in order to increase housing affordability.

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