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Укр Mortgage Vector: The Ukrainian Banks Association Discussed Expanding the eOselya Program
On February 6, the first meeting of the newly created Committee on Mortgage Lending Development of the Ukrainian Banks Association took place. The event was attended by representatives of Ukfinzhytlo, SKY BANK, UKRGASBANK, PrivatBank, BANK FOR INVESTMENTS AND SAVINGS, GLOBUS BANK, Oschadbank, TASKOMBANK, and SENS BANK. The committee was chaired by the head of the board of "Ukfinzhytlo," Yevhen Metzger.
Participants discussed key challenges and prospects for mortgage lending in Ukraine for 2025. The main focus was on revising the terms of the eOselya program to expand access to mortgage loans for the population. They emphasized the importance of attracting additional financial instruments, enhancing cooperation between banks, state institutions, and local budgets, as well as implementing digital services to simplify the lending process.
Key topics of the meeting:
✔ Digitalization of the developer accreditation process
A discussion was held on creating a "Developer's Cabinet" – a digital platform that will simplify the application process for accreditation, automate data exchange regarding real estate, and make the housing market more transparent for financial institutions.
✔ Review of eOselya program terms
The discussion focused on improving the income confirmation mechanism via digital workbooks and expanding participation opportunities in the program for internally displaced persons and their families.
✔ Mortgage portfolio buyback mechanism
Representatives from banks and Ukfinzhytlo discussed the buyback of mortgage portfolios on the balance sheet of the Ukrainian Financial Housing Company (UFHC). A pilot launch of the mortgage buyback mechanism is planned for 2025, which will enhance the liquidity of the banking system and strengthen support for mortgage lending.
✔ Expanding funding through local budgets and engaging employers
Special attention was given to cooperation between banks, local authorities, and large employers. Opportunities for partial compensation of mortgage rates through regional budgets and corporate employee support programs were discussed.
Summing up the meeting, participants emphasized
- Digitalization of lending and developer accreditation processes will reduce bureaucratic burdens and improve market participants' interactions.
- Cooperation between the government, banks, and businesses is of strategic importance for the development of the mortgage market in Ukraine.
- The Ukrainian Banks Association’s Committee will continue working on expanding affordable housing programs and supporting initiatives aimed at developing mortgage lending in Ukraine.
