Consumer Protection Issues in Mortgage Lending in Ukraine: Case, Scope and Implementation Strategy for Regulation
Download Document| Date Published | 2006 |
| Version | Working Paper Number 2 |
| Primary Author | Hans-Joachim Dübel, Gennadiy Shemshuchenko, Konstantin Kucherenko, Arsen Nizelsky |
| Other Authors | |
| Theme | |
| Country | Ukraine |
Abstract
Although Mortgage Consumer Protection is sometimes characterized as a luxury item of developed markets, the Project believes that it is timely to have a debate aiming at improvement of the mortgage consumer conditions. Such a need is not only deemed necessary from a consumer perspective but also from the point of view of financial institutions. Especially regulation in areas that in addition to consumer protection improve the competition environment between lenders – rules addressing conflicts of interest – for instance in relation to developers – effective interest rates, minimum disclosure rules, definition of product classes, appears to be of interest to lenders.