MORTGAGE LENDING AS A FACTOR OF SOCIAL AND ECONOMIC DEVELOPMENT OF THE COUNTRY

Abstract

A mortgage and a mortgage loan are components of the mortgagesystem, the evolution of which dates back several millennia. During this period, there was a transformation of views on the mortgage -from a pledge -a plot of land to an understanding of the mortgage as a financial instrument in the mechanism of socio-economic development of the country.In the lands of Ukraine, the mortgage system arises and develops simultaneously with the development of banking. At the end of the 19th and the beginning of the 20th centuries. a network of mortgage banks was formed on the territory of Ukraine, and mortgages acquired credit functions and turned into a supply channel for investments in agriculture. In the modern period, a mortgage loan is an effective tool in the mechanism of development of the market economy. Mortgages not only stimulate the construction of new housing and provide housing for the country's population on a market basis, but also launch the mechanism for the development of the securities market, the banking and insurance market, and allow the creation of additional jobs in the construction industry and in the production of consumer durables. The action of the mortgage has a multiplicative effect and allows to achieve a significant socio-economic effect, is a factor in the birth of the middle class in societyand a prerequisite for the formation of social well-being. A key role in the development of mortgage lending in the modern period is played by the state program "eOselia", which began working in Ukraine in October 2022 and allowed to obtain a mortgage loan from 3% to 7% per annum. Since the beginning of the "eOselia" program in Ukraine, mortgage loans in the amount of more than 13 billion hryvnias have been issued, and more than 8,500 families have benefited from this program.Adapting the work of the mortgage system to the conditions of war, the aggravation of security risks and demographic changes, requires the participants of the mortgage market to improve the business models developed in pre-war times, to look for new forms for the restoration of mortgage lending, to conduct constant monitoring of social, political and economic factors. The adaptation mechanism on the part of the state provides for the strengthening of legal control over all elements of mortgage lending and maximum support through the transparency of pricing for mortgage loans.