"The decision taken by the Board of SMI, is aimed at restoring the population of the mortgage market in Ukraine. Thus, the SMI will perform the functions of financing real estate developers through partner banks for completion of residential purposes and to refinance mortgages of the population on both the primary and secondary housing market "- said in a statement.
Related article: How to get a mortgage?The refinancing rate will be 11% in local currency.
State Mortgage Institution established by the Cabinet in 2004 to refinance the mortgage lenders - banks with funds raised from the placement. The authorized capital of 2.2 billion USD., Sobschaet "Correspondent".
Earlier it was reported that the SMI is hoping to return in 2011 about 1 billion USD, which has troubled bank Nadra. This was announced by Board Chairman Victor Mirgorodsky institutions.