New mortgage rules in Ukraine — what will change for Ukrainians.

The National Bank of Ukraine approved the Strategy for the development of mortgage lending, aimed at aligning Ukraine's financial rules with European standards. The purpose of this document is to make the mortgage process in Ukraine more transparent and secure for both banks and citizens of the country.

The approved strategy is based on the norms of Directive 2014/17/EU and will affect all market participants in residential loans, from borrowers to developers and banks.

Updates in lending

The implementation of this strategy is a response to the requirements of the International Monetary Fund and the Financial Stability Council. The document aims to change the approaches to mortgage agreements, ensuring transparency and openness of lending conditions, risk insurance, and the possibility of early repayment without penalties.

What the new rules will bring

Information sheet for the borrowerNow banks must provide clients with the European document ESIS containing all the details of the agreement to simplify the comparison of lending conditions.

Creditworthiness checkLenders will check the borrowers' income, financial obligations, and job stability before entering into an agreement.

More flexibility for borrowers

The law allows early repayment of a mortgage without penalties, enabling people to manage their finances more effectively and plan for the future.

Brokerage under control

The new rules regulating the work of mortgage intermediaries are aimed at preventing financial fraud and improving the quality of client consulting.

The adoption of the Strategy for the development of mortgage lending by the National Bank of Ukraine is marked as a step towards harmonizing Ukrainian financial standards with European ones, beneficial for both the financial stability of the country and for borrowers and banks. The new rules are expected to simplify the process of obtaining mortgage loans, ensure greater transparency of conditions, and protect the financial interests of Ukrainian citizens.