Mortgage lending under eOselia programme cut by third – NBU
The relevant statement was made by the National Bank of Ukraine (NBU) in its financial stability report for December 2024, an Ukrinform correspondent reports.
“Over 11 months of 2024, the number of mortgage loans provided has been over 1.5 times higher than during the entire previous year. But, in the second half of 2024, the number of loans provided by financial institutions per month is a third lower on average compared to March-April, when the lending volumes were record high,” the report states.
According to the NBU, mortgage lending has slowed down for several reasons. Firstly, changes in the programme conditions by the operator, Ukrfinzhytlo (including a three-year housing age limit and revised rates). Secondly, the lack of funds in Ukrfinzhytlo.
Additionally, even though the programme was expanded to 11 banks and 91 accredited real estate developers (201 houses), over 90% of mortgage loans are concentrated in three state-owned banks. Some of the newly added participant banks have not provided any mortgage loans so far.
A reminder that, since early 2024, Ukrainians had been provided 8,300 loans worth UAH 14.2 billion under the eOselia (eHousing) government programme.
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