Abstract
The purpose of the article is to reveal the role and importance of the mortgage lending development to overcome the financial and economic crisis and ensure the positive dynamics of macroeconomic indicators. The article reveals the essence of mortgage lending, substantiates the necessity of its development and improvement to create an effective mortgage lending system in Ukraine, which helps to solve the problems related to providing housing for the population and accelerating the development of not only the construction industry but also related areas of the activity. It is proven within the study that the volume and dynamics of the investment in housing has a significant impact on the macroeconomics, and therefore, by improving the mortgage lending system, it is possible to transmit positive impulses to the real sector of the economy and bring the country out of crisis. The article outlines the features of a mortgage lending which distinguish it into a separate sphere in the credit market. Based on these features, the functions of mortgage lending in modern conditions are defined, namely: investment, social, stimulating, and formation of the fictitious capital in the securities market. The research proves the importance of developing and improving mortgage lending by identifying the benefits and disadvantages of all credit entities. On the basis of statistics, the main parameters of the domestic mortgage market, which indicate a conservative approach to the formation of lending conditions and the reluctance of banking institutions to provide long-term mortgages, are determined. The main reason for this situation is the imperfect legal base of real estate lending. It has been concluded by the study results that mortgage lending is an important tool for ensuring the social and economic growth of a country, and its role and importance have increased significantly since the financial and economic crisis. JEL classіfіcatіon: G21 Manuscript received 27.04.2020
Highlights
Introduction and research problemIn today’s environment, mortgage lending is one of the most reliable means of attracting investment in house building
It is proven within the study that the volume and dynamics of the investment in housing has a significant impact on the macroeconomics, and by improving the mortgage lending system, it is possible to transmit positive impulses to the real sector of the economy and bring the country out of crisis
Establishing an effective mortgage lending system in Ukraine is an important financial and socio-economic challenge, which helps solve problems related to providing housing for the population and accelerating the development of the construction industry, and related areas of activity
Summary
The purpose of the article is to reveal the role and importance of the mortgage lending development to overcome the financial and economic crisis and ensure the positive dynamics of macroeconomic indicators. It is proven within the study that the volume and dynamics of the investment in housing has a significant impact on the macroeconomics, and by improving the mortgage lending system, it is possible to transmit positive impulses to the real sector of the economy and bring the country out of crisis. Establishing an effective mortgage lending system in Ukraine is an important financial and socio-economic challenge, which helps solve problems related to providing housing for the population and accelerating the development of the construction industry, and related areas of activity. The purpose of the study is to reveal the nature and importance of improving mortgage lending to overcome the financial and economic crisis and ensure positive dynamics of macroeconomic indicators.
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