DEVELOPMENT OF THE NATIONAL SYSTEM OF MORTGAGE LENDING FOR THE AGRICULTURAL SPHERE

Abstract

The article considers the problems of mortgage lending to agriculture on the basis of analysis of its current state and the creation of favorable legal and economic conditions for its development. Today there is a low profitability of agriculture and inefficient use of resource potential, as well as lack of long-term financial resources, so solving the problem of attracting long-term investment resources in agro-industrial production is largely associated with the development of mortgage lending in agriculture. The problem of land mortgage lending in Ukraine is the high risk of lending secured by land due to the uncertainty of their liquidity, which is due to the fact that their sale takes much longer than, for example, the sale of an apartment or land allocated for low-rise construction, due to underdeveloped land market infrastructure. World experience shows that land mortgages allow agricultural producers in developed countries, on the one hand, to expand agricultural production through the use of fixed assets acquired through mortgages, and on the other hand, to accelerate capital turnover and earn extra income. The main purpose of creating a national system of mortgage lending is the formation of effective market mechanisms to attract long-term financial resources in the financial and credit sphere. On this basis, the market of long-term mortgage lending will operate with the use of modern market infrastructure and financial instruments that allow to gradually reduce the cost of mortgage loans for agricultural producers. The effective mechanism of implementation of mortgage schemes of crediting of agriculture first of all depends on the effective legislation which should provide, on the one hand, reliable protection, both the mortgage creditor, and the borrower, and on the other hand, to provide incentives for further development and improvement of all complex of legal relations. in this area, taking into account foreign experience. Keywords: bank, mortgage lending, financial instruments, National Bank of Ukraine, loan guarantee fund, liquidity ratio.