The Housing Finance System

Text bolded/green below shows notes and variable definitions when you roll over. If you cannot see the notes, please download an Excel version from the Research Center, which includes notes. Also, a PDF featuring variable definitions is available in the document list under "Definition of Hofinet Variables".

 

A. Primary Housing Finance Market

A.1 Industry Structure and Performance
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Types of originating lenders/market share:A.1.2
Identify the 3 largest loan originating lendersPrivatBank, Oschadbank, UkreximbankPrivatBank, Oschadbank, Ukreximbank 
National Bank of Ukraine
A.1.3
Are there (quasi) public mortgage lenders:YesYesYes
State Mortgage Institution
A.1.4
Non-depository financial institutions specialized in housing financeYesYesYes
State Mortgage Institution
A.1.4.3
Level of Non-Performing Mortgage Loans (90 days or more past due):A.1.6
Average 1997-2007 A.1.7
A.2 Size of Mortgage Finance Sector
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Total amount of home mortgage loans outstanding at the end of year in millions of USD:2,756.97 USD (millions)4,553.13 USD (millions)6,436.47 USD (millions)
National Bank of Ukraine
A.2.1
Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)3.03%3.44%3.58%
National Bank of Ukraine and WEO
A.2.1.1
and as % of all credits outstandingNot available4.75%4.27%
National Bank of Ukraine, World Bank
A.2.1.2
A.3 Housing Finance Products
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Mortgage products as % of all mortgages (approx.) in local currency:A.3.1
Most prevalent type of foreign currency mortgage used:A.3.3
Most frequent interest rates on fully amortizing:A.3.4
Typical lender fees associated with mortgage origination: A.3.6
Typical third party fees associated with mortgage origination:A.3.7
Loan-to-Value (LTV) on first mortgage: A.3.8
Maximum LTV8080 A.3.8.1
Typical LTV at originationNot available7080
National Bank of Ukraine
A.3.8.2
Maximum term over which pmt is calculated? 15 years15 years15 yearsA.3.9
Mortgage pmt-to-income ratio A.3.10
Maximum pmt-to-income ratio (Individual income) 50% A.3.10.2
A.4 Lending and Servicing Process
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Which institutions define underwriting rules? A.4.2
A.5 Credit Risk Assessment
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Is mortgage default insurance available?YesYes A.5.3
B. Funding Sources for Mortgages and the Secondary Mortgage Market
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
What are the main funding sources for mortgages?B.1
Retail funding (deposits/other)primaryprimaryprimary
 
B.1.1
Wholesale funding: loans from other banks or corporationssecondarysecondarysecondary
State Mortgage Institution
B.1.2
Funding through mortgage bonds tertiarytertiarytertiary
SMI
B.1.3
C. Housing Microfinance
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Types of lenders operating in the housing micro-finance (HMF) sector:C.2
Level of NPLs (>90 days past due) in HMFC.4
back to top | Country Data:
Notes:
Notes:
Notes:
Notes: An individual must pay real property tax is any of the following conditions is met: (1) the area of their apartment is larger than 60 square meters; (2) the area of their dwelling house is larger than 120 square meters; (3) the total area of of one's properties exceeds 180 square meters. The tax is levied at a rate of 2% of the minimum per square meter. Land tax is also levied at a rate that ranges from 1-5%, dependent on whether the land is agricultural and whether it has a normative monetary value  
Notes: An individual must pay real property tax is any of the following conditions is met: (1) the area of their apartment is larger than 60 square meters; (2) the area of their dwelling house is larger than 120 square meters; (3) the total area of of one's properties exceeds 180 square meters. The tax is levied at a rate of 2% of the minimum per square meter. Land tax is also levied at a rate that ranges from 1-5%, dependent on whether the land is agricultural and whether it has a normative monetary value
Notes: Capital gains tax, at a rate of 5%, applies only if one sells more than one home during the year, provided that the owner holds the title to the property for at least three years before the sale.
Notes: Capital gains tax, at a rate of 5%, applies only if one sells more than one home during the year, provided that the owner holds the title to the property for at least three years before the sale.
Notes: Drastic change due to the Ukrainian crisis that started on November 21, 2013.
Notes: Drastic drop due to the Ukrainian crisis that started on November 21, 2013.
Notes: Drastic drop due to the Ukrainian crisis that started on November 21, 2013.
Notes: Last reported rate is from 2015.
Notes: Last reported rate is from 2015.
Notes: Liquidity facility: State Mortgage Institution
Notes: Liquidity facility: State Mortgage Institution 
Notes: Liquidity facility: State Mortgage Institution 
Notes: Liquidity facility: State Mortgage Institution 
Notes: Liquidity facility: State Mortgage Institution 
Notes: Liquidity facility: State Mortgage Institution 
Notes: Liquidity facility: State Mortgage Institution 
Notes: Liquidity facility: State Mortgage Institution 
Notes: Liquidity facility: State Mortgage Institution 
Notes: Liquidity facility: State Mortgage Institution 
Notes: Liquidity facility: State Mortgage Institution 
Notes: Liquidity facility: State Mortgage Institution 
Notes: Liquidity facility: State Mortgage Institution, established in 2004
Notes: Loans granted by deposit-taking corporations to households for home purchase
Notes: Loans granted by deposit-taking corporations to households for home purchase
Notes: Loans granted by deposit-taking corporations to households for home purchase
Notes: Loans granted by deposit-taking corporations to households for home purchase
Notes: Loans granted by deposit-taking corporations to households for home purchase
Notes: Loans granted by deposit-taking corporations to households for home purchase
Notes: Loans granted by deposit-taking corporations to households for home purchase
Notes: Loans granted by deposit-taking corporations to households for home purchase
Notes: Loans granted by deposit-taking corporations to households for home purchase  
Notes: Loans granted by deposit-taking corporations to households for home purchase  
Notes: Loans granted by deposit-taking corporations to households for home purchase  
Notes: Many banks decreased financing horizons because they could not get access to more long-term capital to finance new mortgages.
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: On top of a lower interest rate for mortgage loans, the government also pays a portion of the interest payment (13% of the 16% rate) and the households that participate in this program are responsible for the remaining 3% a month (started in 2012)
Notes: Only reported as % of gross loans.
Notes: Private companies such as CMHC or Genworth
Notes: Private companies such as CMHC or Genworth
Notes: Private companies such as CMHC or Genworth 
Notes: Tax deductions are available for mortgage interest if real estate is located in the Ukraine.
Notes: Tax deductions are available for mortgage interest if real estate is located in the Ukraine.
Notes: Tax deductions are available for mortgage interest if real estate is located in the Ukraine.  
Notes: The actual value is 10155.04%
Notes: The actual value is 110%
Notes: The actual value is 240%
Notes: The actual value is 252%
Notes: The State Mortgage Insitution was created in 2004 by the Ukrainian government. Funding provided through government.
Notes: The State Mortgage Institution (SMI) was created in 2004 by the Ukrainian government
Notes: The State Mortgage Institution (SMI) was created in 2004 by the Ukrainian government 
Notes: The value is 122.70%
Notes: The value is 148.63%
Notes: The value is 184.25%
Notes: The value is 208.63%
Notes: The value is 250.28%
Notes: Ukraine has multiple government programs that target different segments of the population through subsidized interest rates. "Own House" supports individual housing construction in rural areas, "State housing program for Youth" helps young families with lower interest rates on mortgages. (started in 2002)
Notes: Ukrainian crisis that started on November 21, 2013 caused inflation.