The mortgage lending market grew by 17% in February; the main driver is the state’s affordable housing program.

In February, Ukrainian banks issued 783 mortgage loans for a total amount of ₴1.3B. In particular, the volume of mortgage loans granted to the population increased by 17.3% compared to the previous month. In addition, this is more than 600% higher than February 2023’s indicator.

The prime mover of the mortgage segment remains preferential lending within the eOselya program. Almost all loans over the past year were granted within the framework of the state program.

According to the NBU, the weighted average effective interest rate on mortgage loans in February remained at the level of 7.6% per annum for the fourth month in a row.

A total of 9,000 Ukrainian families have taken out ₴14B in loans to purchase housing under the eOselya program. About 60% of mortgage loans were issued to military personnel and security forces, 11% to teachers and scientists, 9% to doctors. Those working in these professions are eligible for loans issued at a 3% interest rate.