The order providing long lasting credits for buying accommodations

State fund in helping youth accommodation’s construction (further-Fund) is a state specialized financing institution which obeys to the Cabinet of Ministry Ukraine, which was created with the purpose to conducting residential politics. In its work Fund use Constitution, law of Ukraine, acts of President of Ukraine and Cabinet of Ukraine and also Provision “About State fund of helping youth accommodation’s construction”, which was confirmed by Cabinet of Ministry of Ukraine from 26.10.2000 №1604.

The order of providing privileged long lasting credits to young families and alone young citizens for construction (reconstruction) or buying the accommodation is regulated by Provision “About the order of providing privileged long lasting credits to young families and alone young citizens for construction (reconstruction) or buying the accommodation” is confirmed by resolution Cabinet of Ministry of Ukraine from 29 May 2001 №58 4 (further – Provision 584).

According to Provision 584 for receiving the credit has a right young families and alone young citizens who according to the legislation acknowledged who need in approval of living conditions, as following:
- Family where husband and wife are under 35 years old included;
- Not full family where mother (father) is 35 years old included has a minor child (children);
- Alone young citizens at the age under 35 included.

Credit as to Provision 584 provides to a young families and alone young citizens for construction (reconstruction) of accommodation for 30 years.

First payment is not less than 6 percent of the construction’s (reconstruction) cost, expert estimation, and cost of buying the object of credit financing. In case of providing a credit for construction (reconstruction) the written sum is paid by parts by candidate:

- For the moment of conducting credit agreement – not less than a half of this sum and also means for insurance in a period of accommodation’s construction (reconstruction), from the whole sum of payment;
- At the time of finished calculations during 10 days, after receiving in BTI technical passport inclusive of factual square of built (reconstructed) accommodation.

As to Provision 584 the amount of credit financing for construction (reconstruction) accommodation is determined by regional department of Fund, from the norm 210 sq. ft. of the total square of the property for one member of the family and additionally 200 sq. ft. for the family (further – normative square), cost of construction (reconstruction) accommodation by prices which are available for the time of conducting credit agreement and expenditures for insurance in the period of construction (reconstruction) accommodation. The size of the credit for buying the property is defined by regional department of Fund, on the basis of normative square and expert estimation.

According to the President’s decree “About acts of improvement the position of large families” from 12 November 1999 №1460, is foreseen that while decision of privileged long lasting credits for construction (reconstruction) or buying the property to young family and alone young citizen the privilege goes to large family.

Also Provision 584 foresees the privileged conditions of credit financing of young families and alone young citizens, specifically:

- Borrower who does not have children pays the credit with rate of interest in a sum of 3% annual;
- Borrower who has one child, do not pay an interest by using the credit;
- Borrower who has 2 children, for budget means is paid 25% of the sum;
- Borrower who has 3 and more children – 50% of the sum.

Additional information for citizens of villages.
People who live in individual house, which was built inn credit in a village, have additional privileges. If borrower always works in agricultural production, in social sphere of the village and self-governing authorities, 25% is amortized additionally to the privileges mentioned above.

Necessary documents.
People who has a right and have a wish to get privilege long lasting credit for construction (reconstruction) or buying a property on conditions which are defined by Provision 584, should take following documents in consultation center:

- Application about providing a credit;
- Certificate about staying on the housing list;
- Certificate about number of family;
- Copy of certificate of marriage, passport data;
- Copy of certificate of child’s (children’s) birth;
- Documents which are necessary for defining paying capacity (certificate from the place of working, if it is necessary – contract of bail, other documents which confirm income);
- Copy of identification code.

For getting a credit for construction (reconstruction) of individual house, except documents which are mentioned above, you should give construction passport, which is given by local architectural agencies, design and estimate documentation, which is confirmed in the prescribed manner.