Developers and banks are looking for a way out of crisis

08.09.2010 15:27
Articles about real estate | Developers and banks are looking for a way out of crisis Ukrainian Construction Association has initiated and conducted the first joint meeting of banks and property developers to find ways to resume the financing of construction projects and mortgage lending to individuals.

At the meeting, noted that the main reason for the reluctance of banks to lend to developers - no justification developers ways to repay the loan, that the stagnation is of great importance. But noted that today it is important to jointly find the opportunities that will restore the interest of banks to finance real estate projects in Ukraine.

Related article: Level troubled mortgages remains high

Bank representatives stressed the importance of the resumption of lending to developers: "If not resolved and the issue of credit building companies, we can hardly speak about the growth of the construction market", - said director of product marketing department of private clients of Raiffeisen Bank Aval Eugene Demyanov.

Mr Demyanov, like other banks, also expressed the hope that soon will find ways to update the interest of individuals to the mortgage, which will allow builders to sell residential real estate projects.

According to reports, head of mortgage VTB Bank Bolshevich Alexander outlined plans for its establishment: "We have adopted several solutions to improve product quality. Moreover, now we will have a loan program not only for 10 years, but at 15-20, depending on the initial payment. Of 18% per annum. "

A meeting of developers and banks - the first of a series of planned meetings in the near term, the holding of which is aimed at promoting dialogue and a common strategy for the resumption of lending to construction companies at affordable rates.
Content tags: Mortgages Kiev
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