Bankers will give a chance for Ukrainians to save on housing

15.09.2011 07:44
Articles about real estate | Bankers will give a chance for Ukrainians to save on housing Soon, Ukrainians will get another chance to save up for housing, investing in a fund for banks.

How to assure MPs, based on trust management of housing savings scheme will not allow the bankers to profit by the money people. However, the full guarantee of preservation of lawyers in the document was not found.

Related article: n Kharkiv region selected 7 banks for participation in the program of reduction of price of the mortgage

September 2 in parliament the bill number registered 9093 "On the foundations of the bank management." According to the explanatory note to the document, the bill provides for the expansion of bank-managed funds by creating a new kind of his - FBU housing as a way of saving its members for housing purchase or construction investment. The bill expands the participants of the FBU for legal entities, which will now be able to open corporate accounts within each fund. Beneficiaries of this bill will become employees of the company or their minor children.

MPs and project developers have traditionally explain their motives need to stimulate housing construction. But respondents «i» financiers initiative legislators did not add optimism.

According to head of legal methodology and regulatory support of VAB Bank Dmitry Bogatyrev, the proposed improvements (if they are implemented in the current legislation. - Ed.) Did not establish any fundamentally new institutions. In fact, it is about creating the same housing and pension trust funds, but on the basis of the banks. "Apparently, the sponsors are counting on the relatively more stable banking institutions compared to conventional asset management companies. In essence, the proposed approach to corporate accounts FBU is the only specification of the existing norms, "- said the lawyer. In fact, according to article 1034 of the Civil Code, the founder of management and can now talk of beneficiaries of the property transferred to the administration.

Given the long-term investmentparticles in the FBU, it is extremely difficult to predict the effect of social and market the funds. Indeed, the practice of such funds in Ukraine is not new, but the main problem is the regulation of their activities, says the head of the financial sector of the audit services of consulting company "KPMG in Ukraine," Vadim Kuntsevich. Until now, investors of these funds were virtually protected from fraud and incompetence of the bank or elementary builder, as the bank was actually a cash register and the holder of a current account with no control by the construction. "Naturally, the bank may not exercise such control in a professional and free. Consequently, without the involvement of professional participants, a kind of "customer service", which would act in the interests of investors, the law will not make significant changes to the current situation "- warns an expert.

According to analyst investment group "Art Capital" Oleg Ivantsov, FBU, most likely, lawmakers planned as an alternative to the FSF (the fund financing the construction), megapopulyarnym before the crisis and are now widely used. Thanks to the CFF may be quite effective, including a tax point of view, to finance real estate construction projects. Such funds have been quite risky, as shown by the crisis, but nonetheless popular. "Housing FBU, I think, will be able to compete with the FSF, and thereby revive some confidence in the project construction financing, primarily due to greater confidence in the banks" - suggests companion «i».

However, in order to become popular residential FBU, their activities should be effectively and conveniently controlled (in particular, this applies to deferred tax liabilities). According to experts, plus the possibility of innovation are evident, as the FBU submitted to convenient tool for investing. The disadvantage is likely to show up in the process of monitoring the actions of FBU, which must be rigid enough toprevent fraud, but quite liberal in that the mechanism worked.

Providing the same legal entities allowed to enter the composition of the funds of bank management, market participants estimate mostly positive. According to Oleg Ivantsov, the increasing number of investors FBU will enhance their efficiency and profitability, will benefit ordinary citizens of the participating funds.

"On the other hand, through the collection of investors - legal entities in the group will be to finance and investing in programs that are supported by the state, such as construction of hotels in Crimea, the Carpathians, or objects of small infrastructure. This, however, would require a number of clarifications and amendments to the bill under discussion ", - says Vadim Kuntsevich. He adds that without the participation of professional customer service and technical component of the investment and operation of the fund are at greater risk.

Content tags: Mortgages Legislation
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