Government approved the terms of the Affordable Mortgage programme

The Government has approved the conditions for providing mortgage lending for the state-owned company Ukrfinzhytlo as part of the Affordable Mortgage programme initiated by President Volodymyr Zelensky.

From October 1, the following people will be eligible to get a soft loan at 3% for 20 years with a down payment of 20% for the purchase of housing:

  • military personnel, employees of the security and defense sector;
  • doctors;
  • teachers and pedagogical workers;
  • scientists.

Employers of the above categories of employees will have the opportunity to compensate them for the initial contribution and part of the body of the loan at the expense of budget programmes (the amount of compensation depends on the length of service). Later, the programme will become available to all Ukrainians whose residential real estate does not exceed 52.5 square meter + 21 square meter per each family member.

“In this way, Ukrainians, and, first of all, our military, law enforcement officers, doctors and teachers, will be able to purchase apartments on preferential terms. This will partially solve the problem of housing shortage, return Ukrainians who have lost their homes from abroad and activate the construction industry thanks to the increase in the volume of orders,” noted First Deputy Prime Minister – Minister of Economy of Ukraine Yulia Svyrydenko.

As part of the Affordable Mortgage programme, it will be possible to purchase housing up to 52.5 square meters of total area + 21 square meter for each subsequent family member. If we are talking about the regional center, then in a building that has been in operation for no more than 10 years. The cost should not exceed the estimated value determined by either an assessment officer or a bank employee.

Also the cost of 1 square meter should not exceed the average cost of construction, determined by the Ministry for Communities and Territories Development and increased by 2.5 times for regional centers, cities with a population of more than 300,000 people, at a distance of up to 15 km from Kyiv; by 2 times – for cities with a population of 100,000 – 300,000 persons, 1.75 times – for other settlements.

Housing must be insured against the risks of accidental destruction or accidental damage at the total assessed value of property.

Mass mortgage programme will be digitized, it will be possible to apply for a loan through the Diia portal.

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