The program is implemented by the Ukrainian Government and initiated by the President of Ukraine through the Entrepreneurship Development Fund.
- from 5 to 20 years on apartments
- from 5 to 15 years on houses
Interest rate of the client under the Bank program – 5.99%
Real interest rate – 7.78%
Down Payment – 20% and more
Get acquainted with other mortgage rates from PRAVEX BANK
Loan amount is from 250.000 to 2.000.000 UAH, but not more than 80% of the value of the standard size* of the subject of the mortgage
Loan currency – hryvnia
Loan term – from 5 to 20 years for apartments, from 5 to 15 years - for houses with land / townhouses
Maximum value of the subject of the mortgage is 2.500,000 UAH
Interest rate of the client under the Bank program is 5.99% (in case of violation by the Borrower of his/her obligations under the loan agreement, this rate shall not be applied)
Compensatory interest rate for the client (fixed) is 7% per annum
Down payment is not less than 20% of the value of the mortgage and 30% and more – for houses with land/townhouses.
- One-time loan fee is 0.5% of the loan amount
- Basic interest rate on a mortgage loan UIRD12M + 4.5%, where:
UIRD12M is indicative rate of the Ukrainian index of interest rates on deposits of individuals, which is published daily on the official website of the National Bank of Ukraine. UIRD 12M is the amount of UIRD 12M UAH, effective on the first banking day of the calendar month preceding the month of review the interest rate.
4.5% - margin on the loan, fixed throughout the term of the loan agreement
The Nominal interest rate is part of the Basic interest rate and is equal to the Basic interest rate minus 1.01% per annum
Real interest rate (total loan costs):
Within the interest rate of the client under the bank program – 7.78%, within the Nominal interest rate – 14.76% (to calculate the total loan cost, the UIRD12M was deemed applied 8.76% (the maximum loan amount is UAH 2 million, the maximum loan term is 240 months), standard repayment schedule, including charges for the services and payments for the benefit of third parties).
Charges for the services of third parties:
- Property insurance – 0.3% of the property value (annually)
- Borrower’s life insurance - 0.50% of the loan amount (annually)
- Notary services – UAH 10.000 (an approximate cost)
- Mandatory state pension insurance fee – 1% of the property value
- Appraiser services – UAH 2.000 (an approximate cost)
Accredited insurance companies under the “Affordable Mortgage at 7%” Program:
Immovable property insurance (subject of the mortgage):
- VUSO (address: 31 Kazymyr Malevych Street, Kyiv, 03150, phone number: 0 800 303 911)
- USG (address: 32-A I. Fedorova Street, Kyiv, 03038, phone number: 044 237-02-56)
- Knyazha (address: Hlybochytska Street, Kyiv, phone number: 0 800 501 486, (044) 207 72 72)
- ARX (JSC “ARKS Insurance Company” (8 Illinska Street, Kyiv, Ukraine, phone number: 0 800 30 27 23)
Borrower's life insurance: https://www.pravex.com.ua/vazhliva-informaciya-dlya-kliyentiv-banku/dlya-pozichalnikiv-banku
The Borrower must meet the requirements of the Program, check here the details: bdf.gov.ua
The Ukraine nationals, aged 23 and above, having full civil capacity, as per the Law, aiming to purchase the first residential real estate or improve their living conditions, if the area of the residential real estate does not exceed the standard size*.
The age of the borrower should not exceed 65 years (including) at the ending date of the mortgage loan.
The borrower and members of his family must not own (creating an integral object) a residential real estate and / or existing agreements on lawns for (or investment at) construction of residential real estate and / or property rights to unfinished residential real estate construction, if their size exceeds the standard size*.
Income – The borrower and his family members** must have a sufficient total net income to cover the payments and services for the mortgage. The amount of the average monthly total net income of the borrower and his family members for the last six months should not exceed ten times a monthly average paid within the area of the subject of the mortgage, calculated according to official data of the State Statistics Service - http://www.ukrstat.gov.ua/
* The standard area of the subject of the mortgage - 50 square meters. m of total area of the subject of the mortgage for a single citizen or a family of two, 20 square meters. m - for each subsequent family member. The total area of the subject of the mortgage may not exceed the standard area of the subject of the mortgage by more than 40%. The cost of the total area of the subject of the mortgage, which exceeds the standard area is paid by the Borrower at its own expense.
** The members of the borrower's family include: the spouse, including persons in a civil marriage with shared residence, rights and responsibilities, but are not registered as a couple officially (if the fact of their shared residence is established within the Law), their minor and juvenile children sharing residence with the borrower (under the age of 18 years, if other is not prescribed by the law).
Important! The borrower and his family members can exercise the right for state funding only for one mortgage loan.
- Check your compliance with the requirements of the bdf.gov.ua Program
- Fill the Program application to the bank and submit other required documents
- Get a mortgage loan
Subject of the mortgage: a property on the secondary market (no limits/restrictions, except for real estate located in regional centers with a population of more than 1 million according to the State Statistics Service http://database.ukrcensus.gov.ua/PXWEB2007/, that put into operation or reconstructed not earlier than within ten years before the current (in 2021 - from 01.01.2011, in 2022 - from 01.01.2012), taking into account the following:
- apartments in an apartment building;
- individual residential buildings with the land area on which it is located, housing blocks (townhouses);
- maximum value of the subject of the mortgage is not more than UAH 2,500,000
- standard size of the subject of the mortgage is 50 square meters of total area of the subject of the mortgage for a single person or a family of two and 20 square meters for each extra family member.
- total size of the subject of the mortgage must not exceed the standard size of the subject of the mortgage* by more than 40%.
The cost of the total size of the subject of the mortgage, which exceeds the standard size, is paid by the Borrower at its own expense.
The following shall not be the subject of a mortgage:
- property located in regional centers with a population of more than 1 million (according to state statistics), which was put into operation or reconstructed earlier than ten years, which precede the current year;
- social housing, office-type property and other property adapted for temporary residence of citizens
- Program Borrower’s Application
- Consent to the processing of personal data
- Statement of the individual, that the individual and his/her family members do not have any prior state funding within the Loan Cost Reduction Affordable 7% Mortgage Program.
- Passport of the citizen of Ukraine
- Document on the registration number of the taxpayer's registration card
- Place of residence registration certificate of the Borrower and his/her family members
- Copy of the marriage certificate (if any)
- Copy of the child's/children's birth certificate(s) (if any)
- Income certificate and tax clearance certificate for the last 6 months
- Other documents (requested after consultation with the bank)
THE BORROWER MAY BE DENIED TO RECEIVE COMPENSATION IN CASE OF:
providing inaccurate or invalid information (including clearance from existing agreements on lawns for (or investment at) construction of residential real estate and/or property rights to unfinished residential real estate construction, supported by the Government Compensation in favour of the Borrower).
In case of a breach of the loan by the Borrower on the timely repayment of the loan or its part and/or the timely payment of part of the interest accrued equal to the compensation interest rate for more than 30 calendar days. The interest compensation is resumed upon repayment by the Borrower no later than within 90 calendar days from the date of breach of the obligation or in case of restructuring of the overdue debt by the Bank and the Borrower;
In case of breach of the loan obligation for more than 90 calendar days.
Important! The Borrower, who was not entitled to the Compensation but obtained it due to an inaccurate or invalid information provided, must return it to the Fund, on the date of the Bank’s implications of illegally received Compensation, as per paragraph 29 of The Procedure of Cost Reduction of Mortgage Loans.
To a future borrower’s note:
- in case of violation by the client of his/her obligations under the loan agreement and the conditions of “Affordable mortgage at 7%” Program, the interest rate of 5.99% under the Bank's program shall not be applied
The loan is repaid monthly; the interest is accrued on the loan balance. The Borrower shall timely deposit to his current account the amount sufficient to repay the loan, the Compensation Rate and/or the Basic Interest Rate.
In case of breach of obligations under the client’s agreement, the Bank, in accordance with the terms of the existing agreement and current legislation, has the right to demand compensation for damages in the form of penalties (fines or compensations).
- Early fulfil the obligations under the loan agreement, fully repaying the debt on the loan, including interest for the actual use of funds.
- The Bank is prohibited from offering the client its goods or services, or those of its affiliates, as a mandatory condition for the provision of loan services (except for the provision of banking services);
- The Bank has no right to make changes to the existing agreements with customers unilaterally, unless otherwise provided by the agreement or the law;
- The client may refuse to receive promotional materials through remote communication channels
- The client shall return the loan amount, commissions and interest for using the loan in accordance with the terms of the loan agreement and the requirements of the current legislation of Ukraine
- Possible consequences for the client in case of using the banking service or failure to fulfil obligations in accordance with agreement for provision of such banking service Warnings!
Complain and suggest: firstname.lastname@example.org