Judicial corruption hinders the development of mortgage lending

09.05.2011 11:25
Articles about real estate | Judicial corruption hinders the development of mortgage lending Recognition of the Supreme Economic Court invalidated mortgage contracts property rights for construction in progress makes a very dubious prospects of construction and mortgage lending. This statement was made senior adviser to Alfa-Bank (Ukraine), Roman Shpek.

According to Speck, a judicial practice does not allow banks to increase lending and lower lending rates. This, in turn, lead to what is "good" borrowers will be serviced by more expensive loans to cover losses to banks that create the "bad" borrowers, writes ZN.

Related article: How honestly did not pay the bank

"The same house VHSU takes two different solutions to one issue. There is a Supreme Court decision, it is all right and can be taken as collateral (property rights for construction in progress - Ed.). However VHSU not recognize the decision of the Supreme Court "- said the banker.

Senior Advisor at Alfa Bank believes that questionable judgments completely negate the positive effects of deregulation of the building, which initiated the power and discredit the reform of the judicial system, which carries out the president's administration. "We have great hope that the National Bank here, as in the case of foreign currency lending, will play a role and help to raise this issue at the level of heads of state", - said Mr. R. Speck.

Commenting on this issue, director of the department's foreign currency reserves of the NBU Alexander Dubihvist noted that the regulator is closely monitoring the situation and the reason for its occurrence called "misunderstandings" of legislation, including regulatory NBU. The official said that to eliminate ambiguities National Bank intends to give one explanation of their bylaws and is ready to act as third party in legal proceedings on the part of commercial banks in the solution "nedostroynyh" disputes.

In the words of chairman of the USB's Boris Timonkin today because of court decisions is extremely risky banks to lend, because the mortgage itself does not actually exist. Unscrupulous borrowers can sell mortgaged property a few times. And this is often done by people occupying high positions, including - In the presidential administration. Legal nihilism reached the point that even lawyers who are related family ties with the leadership of the Ministry of Justice, not hiding offer to provide services to non-repayment of loans.

According to Deputy Director of the Department of Housing, construction and building materials industry Minregionstroya Vladimir Highlands, for the active issuance of mortgage loans to individuals the state should create conditions so that the creditor could take the security of housing under construction, so as an alternative to collateral in people simply do not.

R. Speck said "not yet overcome the corruption in the courts, yet there ousted" zasivachiv, construction will not develop, growing demand and will not achieve the goals that puts in its program the president of Ukraine, in particular, to reach the level of economic growth 8-10%, it will be impossible.

Content tags: Mortgages
Did you like the material?Subscribe to our newsletter
Your comments:
Your opinion will be the first. Thank you for reading this article. I wish you happiness! Please share your opinion in the comment below.