The National Bank of Ukraine (NBU) has advised the banks to consider each case of a loan secured on residential property, Director of International Communication Sergy Kruglyk announced today at his briefing, RBK-Ukraine (РБК-Україна) reports.
“The Public Council dealing, in particular, with this issue, as far as I know, concurred with the National Bank of Ukraine that it will appeal to major banks issuing such loans, mostly consumer loans, or mortgage loans. This appeal letter has been sent to all big banks. I can confirm that these letters are of an advisable nature, calls for applying the voluntary principle - to consider each particular case", - said Kruglyk.
"If it's only one room for a family or social housing – it is one thing. But if it is a type of business and loan was issued for purchase of 10 or more homes, or a borrower is an association comprised of natural persons, each having a few houses the title deeds to which are handed over to a certain holding company afterwards – it is another thing. So, this letter advises the banks to consider revising the tenure of every mortgage loan in arrears, imposing penalties or fines”, - he underscored.
