The Cabinet of Ministers of Ukraine has approved amendments to the Procedure for reducing the cost of mortgage loans, which, in particular, significantly simplify the criteria for borrowers.

First of all, the adopted resolution provides for the exclusion of certain categories of persons who may be borrowers. Namely, now, to become a member of the "Affordable Mortgage at 7%" program, it is not necessary to be on the housing register, to be a young family, an internally displaced person, a researcher, a doctor or a public sector employee.

The requirement not to exceed the provision of housing at the level of 13.65 sq meters per family member or living in a dormitory by residents of dangerous and dilapidated buildings was also abolished.

"Under the Government's decision, the criteria for potential borrowers of the new mortgage program significantly simplify. Thus, "Affordable Mortgage at 7%" becomes even more affordable, and a wide range of citizens will be able to take advantage of state support in the field of mortgage lending. The Resolution also contains a number of technical amendments proposed by the banking community. This is a continuation of a constructive dialogue on the rapid and effective launch of affordable mortgages," said Deputy Minister of Finance for European Integration Yurii Drahanchuk.