of June 4, 2003 No. 853
About approval of the Procedure for partial compensation of rate per hundred of the credits of commercial banks to young families and lonely young citizens on construction (reconstruction) and acquisition of housing
The Cabinet of Ministers of Ukraine decides:
1. Approve the Procedure for partial compensation of rate per hundred of the credits of commercial banks to young families and lonely young citizens on construction (reconstruction) and acquisition of housing which is applied.
2. To the Ministry of Finance during drafting of the State Budget of Ukraine for the corresponding year to provide based on the means of the government budget of the budget requests constituted on representation of the State fund of assistance to youth house construction, expenses on covering of the costs connected with routine maintenance and on partial compensation of rate per hundred of the credits of commercial banks to young families and lonely young citizens on construction (reconstruction) and acquisition of housing under earlier signed agreements provided by the main manager.
Prime Minister of Ukraine
Approved by the Resolution of the Cabinet of Ministers of Ukraine of June 4, 2003, No. 853
1. This Procedure determines the mechanism of compensation of part of percent on the loans which are granted by commercial banks to young families and lonely young citizens on construction (reconstruction) and acquisition of housing (further - partial compensation).
2. In this Procedure terms are used in the following value:
expert evaluation - housing value assessment which developed in the region in the secondary market which is carried out by independent experts according to the legislation;
the investment agreement - the construction agreement (reconstruction) of housing which consists between the borrower and the builder (contractor);
the candidate - young family or the lonely young citizen who intend to receive partial compensation;
the credit - means which are provided by commercial banks to borrowers on construction (reconstruction) and acquisition of housing in the amount of and on the conditions established by the credit agreement signed between them and are subject to return according to the procedure and the terms defined by the specified agreement;
the borrower - young family or the lonely young citizen who obtain building loan (reconstruction) or acquisition of housing in commercial bank. The young family in which the husband and the wife age up to 35 years inclusive can be the borrower; incomplete family in which mother (father) age up to 35 years inclusive has minor children (child); lonely young citizens age up to 35 years inclusive;
estimated cost - average cost of construction of 1 sq.m of housing which developed in the region according to data of the Ministry of Infrastructure, on the date of the conclusion of the credit agreement;
the agreement on provision of partial compensation - the agreement which is signed between regional government of the State fund of assistance to youth house construction (further - Fund) and the borrower for receipt of partial compensation;
the current obligations on the credits - the monthly payment determined by bank as minimum necessary which is made in the account of repayment by the borrower of the credit and interest for using by it for the corresponding period.
3. The partial compensation is performed in borders of the means provided to Fund on this purpose in state and local budgets.
The partial compensation is provided to borrowers only according to one credit agreement.
4. The partial compensation is determined in the amount of one discount rate of National Bank which is effective on the date of the conclusion of the credit agreement.
5. Commercial banks on which credits the partial compensation can be provided are determined by Fund on competitive basis. During tender the benefit is provided to commercial banks which:
adhere to the economic standard rates and estimative indicators established by National Bank;
grant the loans with smaller rate per hundred;
have the developed branch network;
grant building loans (reconstruction) of housing.
6. For registration in regional government of Fund the candidate gives:
statement for provision of partial compensation;
certificate of family composition;
copy of the marriage certficate, passport data;
copy of the certificate of birth of child(children);
copy of the certificate of assignment of identification number;
the certificate of stay on room accounting.
7. Regional governments Fonda:
consider the documents received from candidates. The benefit is provided to large families and candidates who will obtain the credits for smaller term;
determine lists of objects together with commercial bank, on construction (reconstruction) of which the partial compensation can be provided. Object on which acquisition the partial compensation can be provided is determined by the borrower.
8. For decision making about provision of partial compensation candidates give to regional government of Fund:
the copy of the credit agreement certified by commercial bank which issued the credit;
the copy of the investment contract with the builder (contractor) for construction (reconstruction) or the copy of the contribution agreement in fund of financing of construction signed according to the law or the notarized copy of the purchase and sale agreement of housing;
the report of carrying out expert evaluation and notarially attested copy of the agreement of mortgage of subject to crediting (in case of acquisition of housing);
the certificate calculation of commercial bank of the size of obligations on the credit and the forecast size of interests on credit;
9. Regional governments of Fund give to board of Fund on approval of the decision on provision of partial compensation and calculation of the corresponding amounts based on the documents specified in Items 6 and 8 of this Procedure.
10. Based on the decision on provision of partial compensation approved with board of Fund the agreement on provision of partial compensation for a period of 5 years in which its size is determined previously is signed, and also the condition is noted that provision of partial compensation stops in case of failure to carry out by the borrower of obligations according to the credit agreement.
11. Maximum size of building loan (reconstruction) of housing on which the partial compensation can be provided is determined by multiplication of the normative square at settlement cost.
Normativnaya Ploshchad is determined proceeding from regulation 21 sq.m of total area of housing on one family member and in addition 20 sq.m on family.
12. Maximum size of acquisition loan of housing on which the partial compensation can be provided is determined in the amount of expert evaluation, but it is no more than the work of the normative area and settlement cost.
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