In the autumn once again become available soft loans for housing purchase, as well as the launch of the national program "Affordable Housing".
September 29 at a Cabinet meeting Prime Minister Mykola Azarov said that the SMI will work very very new way.
Although mortgage rates are gradually declining, loans for housing purchases are still too expensive. The effective rate (including all commissions and insurance premiums) on mortgage loans now ranges up to 26% annually in local currency. And to borrow from the bank at least 200 thousand hryvnia for 10 years, the borrower must earn no less than 12.9 thousand hryvnia per month.
Help reduce the cost of mortgages should be the relevant state program. How could reduce the cost of a mortgage loan? Try to understand.
The bottom line: preferential loans in local
Who is available: any borrower with a good "white" wages and willingness to pay yourself at least 30% of the price
From October 1, State Mortgage Institution (SMI) resumes mortgage loan refinancing program. But the conditions for granting concessional loans as of that date were not announced. "We are negotiating with the banks, which acted as partners in our program. And we can reveal the details of the program after its start" - that's all that said "money" in the SMI. It remains to be a list of these partner banks, in fact they will need to apply for a loan.
Refinancing rate at which banks lend money to the SMI to the crisis, amounted to 13,5% annual in grivna. But due to the margin of the agent bank cost "soft" loans reached 18 - 20% per annum, which was almost at the level of the average market conditions.
In 2010, SMI facilities will attract already through the placement of bonds under the state guarantees (in the budget for these purposes laid UAH 2 billion.) And an interest rate close to the yield Government Bonds (9 - 11,5% per annum). About this "money" said the head of the department of mortgage assets SMI Vyacheslav Frolov.
Thus, we can assume that the refinancing rate from the SMI to be about 13 - 14% per annum. Adding to this rate margin of the bank, get pre-crisis 18 - 20% pa in UAH, which is 5 - 7 percentage points less than the existing standard mortgage programs.
According to our estimates, in 2010, the SMI program will benefit approximately 10,000 borrowers. But their requirements will be substantially stiffer than the regular mortgage (although to much harsher).
The program "70 to 30"
The bottom line: the state pays 30% of the cost of housing, the rest - the buyer
Who can be found: those who stand in line for a flat in any region of Ukraine
In September 2010, kicked off the state program "Affordable Housing".
To take part in it, you must have footage apartment no more than 7.5 meters for each family member and get in line to improve housing conditions. The project deals with the Foundation Youth Housing Assistance, therefore, to apply for participation in the program must be in its regional office.
To finance the program in 2010 provided 300 million USD. Actually identified so far only 100 million USD. "In the future we plan to develop a mechanism for granting loans under the program" Affordable Housing "at the rate not exceeding 14% per annum," - said "money" the head of the Foundation Youth Housing Assistance Leonid Risuhin.
In contrast to the SMI program, the program "Affordable housing" apartments are available only in the objects of unfinished construction, which will complete construction in the coming years. Foundation website has a list of unfinished projects, the purchase of housing in which the allocated funding. Total for 3 - 8 objects, and even then not in every region of Ukraine.
Based on the amount of funding and the average value of the object (300 ths.), The program will benefit from a little more ... 3 thousand people.
There are no age restrictions on this program. Complexity: a large number of people who get the subsidy (at the apartment we are confronted thousands of people), unstable funding for the program and slow construction.
Foundation Youth Housing Assistance continues to work even on two other programs: subsidized housing loans and partial compensation of interest rates on mortgage loans. The program provides concessional lending to lending at 3% per annum and in the presence of children can be obtained in general-interest loan and even partial compensation for the cost of housing.
Restrictions on the choice of real estate there. Incidentally, for those wishing to build a house in the village even have preferences - the state, except for a reduced rate on the loan also will reimburse 25% of construction cost.
To participate in this program should contact the regional office of the Fund. And in order to assess their chances of receiving preferential loan right now, you can fill out a form on site facilities. This calculator will give the intended location of the applicant in line with the age, size of the desired living space, your own contribution, the presence of children, academic degree, benefits and so on.
Frankly, the chances to achieve a soft loan is very small. For example, a family of three people (30 and 28 years, the child is 2 years) wishing to purchase an apartment in an area of 60 sq.m. loans for 10 years with his own installment of 20%, will take place in six hundred applicants ....
"My husband and I have three years of standing in line to the youth credit. Managed to give birth to a child in a rented apartment. In this case, the queue is moving in a strange way. So we are on 50 place a month later on 54, then at 34. Therefore, to compute when will finally reach the turn and before us, is impossible.
At the last moment may appear some "benefit recipients" (the disabled, families with children) and all, we have again the 122nd, "- says Valery from Donetsk.
In 2010, this program has been allocated a total of 70 mln. But, considering that in 2009, it does not funded, this is a breakthrough. Last year funding was reduced and the partial compensation of interest on the mortgage.
In 2010 funding was renewed in the amount of 117 million UAH. But this money is not even enough to fulfill commitments already signed contracts, so that new applications for the Fund is not satisfied. To close the debt last year (about 60 mln.) From the budget an additional $ 30 million USD.
Real stories of participants of state programs:
"The designer mortgages in 2007 in" Kreditpombanke "program SMI. The complexity was not. If not for the name of the service, I would not know that it is" the SMI program, "- Alexander, Kiev.
"I receive a mortgage in Ukrsotsbank with partial compensation per cent in 2005. In the first year (the most difficult, because large payments) received compensation only for 2 or 3 months instead of 12. Then he got" crumbs "with long delays.
Once the crisis broke out, they stopped to be paid. When payments are recovered, they were even on a smaller scale than before, since lowered the discount rate, to which is tied to compensation. Who needs it, I do not understand - we are just a fiction, rather than help borrowers "- Lyudmila, Kharkov.
"To issue a partial refund of interest on the mortgage. A few months collecting bills. That a certificate is outdated, then another. That does not suit their shape. Quarreled with the head due to the regular absence from work. As a result, is now getting a big disruption already UAH 150. reimbursement each month. And now I think - but it was worth it? "Alexander, Kiev.
Summary: The most realistic chance to obtain preferential loans - to issue a mortgage on the SMI program. In all other state programs, you can simply sign up - if there are grounds.