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08 Nov. 2022

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Mortgage at 3%: how to issue a preferential housing loan for IDPs

Finance
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Ukraine

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Mortgage at 3%: how to issue a preferential housing loan for IDPs

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The government supported the initiative of the Ministry of Reintegration regarding the rights of internally displaced persons (IDPs) to preferential mortgage loans. Now, resettles can get a loan rate for housing in the amount of 3% per annum.


Who can take a profitable loan?


The program includes Ukrainians who have housing in areas of hostilities or in temporarily occupied territories.


See the link for a complete list of these regions.


As you know, before the adoption of the changes, only IDPs from Donbas and Crimea could participate in the preferential mortgage lending program. Now residents of Kharkiv, Dnipropetrovsk, Kherson, Chernihiv, Zaporizhzhya, Mykolaiv and Sumy regions can also apply for a loan.


How to get a preferential mortgage loan?


Those wishing to become participants in the program must apply and win the competition. You can do this on the "Diia" portal or in person at the regional office of the State Youth Housing Administration.


Accommodation requirements


It is possible to get a mortgage for housing reconstructed no later than 35 years ago (previously 25 years). The resettled person has the right to independently choose the region of residence and change it after filling out an application for a loan.


The area of ​​the apartment can be 52.5 square meters for a single migrant, which is twice the previous norm.


Credit period


The maximum term for a soft loan is 30 years (previously 20 years).


In addition, the destruction or damage of the home for which the loan was granted, which occurred starting from February 24, 2022, as a result of the military aggression of Russia, is now the basis for granting the borrower a credit holiday, during which he can be exempted from paying the principal payment and interest. The borrower must report the fact of damage to real estate to the Register of Damaged and Destroyed Property in accordance with the Procedure approved by Resolution of the CMU No. 380.


Attention! If the reason for establishing a credit holiday is the destruction of housing, such credit holidays are established until the citizen receives compensation for the destroyed real estate object.


According to the Minister of Reintegration, Iryna Vereshchuk, 4.8 million internally displaced people are currently registered in Ukraine, although their real number is closer to 7 million.