It means making the process of obtaining an affordable mortgage completely digital: from the application that is already available in ‘yeOselia’ to the actual execution of the loan agreement. This was emphasized by Chairman of Management Board at PJSC “Ukrainian Financial Housing Company” during his speech at the “Digital Lending 2024” conference dedicated to digital lending.
Ievgen Metsger, Chairman of Management Board at UFHC, shared with the conference participants how ‘yeOselia’ has revolutionized the financial and banking services market in Ukraine in less than two years.
“We have expanded the terms and conditions of the program, and now it is a mortgage not only for privileged and certain categories, as it was before in our country. Today, every Ukrainian who wants to buy their own home and meets the simple conditions can use ‘yeOselia’. We take into account feedback from citizens about the program, which requires improvements and changes, and implement them. This is how the opportunity to purchase private houses and townhouses through the program appeared. And we do not stop at improving ‘yeOselia’,” he emphasized.
Ievgen Metsger also mentioned the possibility of using ‘yeVidnovlennia’ certificates to purchase housing under ‘yeOselia’. This feature will become available to Ukrainians tentatively by the end of May this year.
In addition, according to the head of UFHC, despite the fact that the country is under full-scale invasion by russia, in 2023 the amount of affordable housing loans issued was almost equal to the figures of 2021 – UAH 9 billion. This is while 2021 was the best mortgage year in Ukraine:
“At the same time, we focus on both the social effect and meeting social needs, as well as the economic component to bring additional benefits to our country. After all, the construction sector can have a significant positive effect on the economy. Last year, we disbursed UAH 9 billion in loans under ‘yeOselia’, totaling more than UAH 13 billion. More than eight thousand families purchased their own housing under the program. But in 2024, we are going even further – we have planned to inject UAH 19 billion into the country’s economy through mortgages, i.e. to issue approximately 12 thousand loans. At the same time, we are striving to achieve other changes – for developers to work in the European “White box” format, when they provide a fully ready-to-live apartment,” emphasized the Chairman of the Board of UFHC.
Yevhen Metzger also highlighted that the global goal of the ‘yeOselia’ program is its full digitalization:
“We have agreed with the Ministry of Digital Transformation and the Ministry of Economy that we will move to a fully digital process so that not only the offer from the bank but also the transaction itself will end in a digital electronic cabinet. No other country currently has such a 100% digital mortgage.”
