GOVERNANCE OF THE MORTGAGE MARKET’S DEVELOPMENT IN UKRAINE

Abstract

The article defines the role of mortgage lending in the development of the country’s economy. In today’s conditions of development of the banking system of Ukraine mortgage lending is given special attention. In world practice mortgage lending is an effective tool for the development of the housing sector. Mortgage lending is a significant factor in the economic and social development of Ukraine. The development of mortgage lending positively affects the development of the real sector of the economy, especially agriculture. The development of mortgage lending affects the overcoming of social instability. The development of the mortgage lending system is an important component of providing citizens with their own housing, as well as an incentive for housing construction in the country, which significantly influences the level of economic growth in the country. The tendencies of development of the modern market of mortgage lending in the context of influence of macroeconomic factors, normative-legal base and analysis of the basic indicators of development of the market of mortgage lending are explored. The key problems of the mortgage lending market and the main priority areas of government in relation to the development of the mortgage lending market are highlighted. It is proved that the development of the mortgage lending market is impossible without state support. The main forms of state support include: targeted subsidies, tax incentives, increase real incomes, risk insurance, government guarantees on mortgage securities. The analysis of the development of the mortgage lending market allowed to highlight the main problems in the mortgage lending market: the imperfection of domestic legislation, the high cost of loan capital, the volatility of the exchange rate of the national currency, the slow development of real estate markets, stock market securities, as well as specialized mortgage banks The implementation and implementation of the priority areas of state policy and the main forms of state support will ensure the development of the stock market, the financial services market, the banking and non-bank sectors and the economy as a whole.