The National Bank of Ukraine (NBU) has published a previously approved mortgage lending strategy, endorsed by the Financial Stability Council and the NBU Board. The strategy aims to develop market mechanisms and improve housing accessibility.
“Our credit development strategy, approved a year ago, has proven effective. We have reached new agreements with various state institutions to give a boost to market-based mortgage lending,” reads a statement on the NBU website, citing NBU Governor Andriy Pyshnyy.
The strategy, developed in line with a framework coordinated with the International Monetary Fund, outlines a series of structural reforms. Its core objective is to calibrate state support to reflect market conditions and to create an efficient housing market.
Key goals of the strategy include reducing risks by introducing a mass product for war risk insurance and improving legal regulations in residential construction.
The strategy also focuses on ensuring accessible and transparent lending by refining the model of government support and aligning information disclosure standards with EU norms. It proposes strengthening creditor rights through updates to procedures for managing non-performing loans.
“In addition, the further development and scaling of mortgage lending will be supported by the creation and implementation of securitization and covered bond issuance in Ukrainian legislation,” the regulator noted.
Implementation of the mortgage lending strategy will involve the National Bank, the government, and the National Securities and Stock Market Commission. The Verkhovna Rada will also play a key role in introducing necessary legislative changes.
Most measures under the strategy will be launched in parallel, although legal reforms will require more time. A detailed Roadmap will be developed, and the mortgage strategy is expected to become part of a broader National Housing Strategy.
