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ANALYSIS AND WAYS OF MORTGAGE LOANS DEVELOPMENT USING THE
EXAMPLE OF A HOUSING CONSTRUCTION FACILITY
Farangiz Yuldasheva
Master's student
(Tashkent Architectural and Construction University)
Annotation:
The article analyzes the current state and ways of developing mortgage lending
with an emphasis on the example of a specific housing construction facility. The article examines
the historical aspects of mortgage lending, its importance for the economy, as well as current
trends and problems faced by the market. Special attention is paid to the analysis of a specific
housing construction facility to illustrate the practical aspects of using mortgage loans. The
article concludes with recommendations for improving mortgage lending mechanisms and
identifies promising areas for further research in this area.
Key words:
Mortgage lending, Housing construction, Economics, Financial instruments,
Housing affordability, Credit market, Mortgage loan development, Mortgage lending problems,
Improvement of lending mechanisms, Government support, Development barriers, Historical
overview, Market analysis, Innovations in lending.
АНАЛИЗ И ПУТИ РАЗВИТИЯ ИПОТЕЧНЫХ КРЕДИТОВ НА ПРИМЕРЕ
ОБЪЕКТА ЖИЛИЩНОГО СТРОИТЕЛЬСТВА
Aннотaция:
В статье проводится анализ современного состояния и путей развития
ипотечного кредитования с акцентом на примере конкретного объекта жилищного
строительства. Исследуются исторические аспекты ипотечного кредитования, его
значение для экономики, а также текущие тенденции и проблемы, с которыми
сталкивается рынок. Особое внимание уделяется анализу конкретного объекта жилищного
строительства для иллюстрации практических аспектов использования ипотечных
кредитов. В заключении статьи представлены рекомендации по улучшению механизмов
ипотечного кредитования и определены перспективные направления для дальнейших
исследований в данной области.
Ключeвыe cловa:
Ипотечное кредитование, Жилищное строительство, Экономика,
Финансовые инструменты, Доступность жилья, Кредитный рынок,Развитие ипотечных
кредитов, Проблемы ипотечного кредитования, Улучшение механизмов кредитования,
Государственная поддержка, Барьеры развития, Исторический обзор, Анализ состояния
рынка, Инновации в кредитовании.
Introduction. Mortgage lending is a key element of the modern economy, providing broad access
to housing for various segments of the population. This mechanism contributes to the
development of the construction sector, raising the standard of living and stimulating economic
growth. The introduction of mortgage loans has become one of the key factors allowing a large
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number of families to purchase their own housing, which, in turn, has a positive effect on the
social and economic stability of society.
Mortgage loans play a key role in the economy, since they not only help solve the housing issue,
but also have a significant impact on various sectors of the economy. They stimulate demand for
construction materials and services, create jobs and contribute to GDP. Assessing the impact of
mortgage lending on the economy allows us to see its importance and the need for further
development and improvement.
The purpose of this study is to analyze the current state of mortgage lending and determine the
ways of its development using a specific housing construction project as an example. The
objectives of the study include:
Analysis of the current state of the mortgage lending market.
Identification of the main problems and barriers to the development of mortgage loans.
Research of a specific housing construction project.
Development of proposals for improving mortgage lending mechanisms.
The object of the study is the mortgage lending market, and the subject is the ways of its
development using a specific housing construction project as an example.
To achieve the stated goals and objectives, the study used various methods, including analysis of
scientific literature, statistical data analysis, expert assessments and empirical research. An
integrated approach allows for the most complete and objective assessment of the state and
prospects for the development of mortgage lending.
Main part. The modern mortgage lending market offers various types of mortgage loans, such as
annuity, differentiated, with a fixed and floating interest rate, targeted and non-targeted loans.
Annuity loans, being the most popular, provide for constant monthly payments throughout the
entire loan term, which allows borrowers to plan their expenses. Differentiated loans involve a
decrease in the amount of monthly payments as the principal debt is repaid.Economic factors
have a significant impact on the mortgage lending market. One of the key factors is the level of
interest rates, which directly affects the availability of mortgage loans for borrowers. High
interest rates can make mortgages less affordable for large sections of the population, which in
turn affects the demand for housing and slows down the pace of construction.
Economic crises also have a significant impact on the mortgage lending market. During periods
of economic instability, the level of income of the population decreases, unemployment increases
and the risks of default on mortgage loans grow. Regulation and legislation in the field of
mortgage lending play an important role in ensuring market stability and protecting the rights of
borrowers.
Problems and barriers to the development of mortgage lending:
1. High interest rates and availability of loans
One of the main problems faced by borrowers is high interest rates on mortgage loans. High rates
make mortgages less affordable, especially for young families and low-income citizens. This
leads to a decrease in demand for mortgage loans and a slowdown in housing construction. An
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analysis of interest rates shows that they depend on many factors, including the inflation rate, the
monetary policy of the central bank, the economic situation in the country and the level of
competition in the lending market. To increase the availability of mortgage loans, it is necessary
to develop measures to reduce interest rates, including government subsidy and preferential
lending programs.
2. Bureaucratic barriers and complex approval procedures
To reduce bureaucratic barriers and simplify approval procedures, it is necessary to develop
measures to automate and digitalize processes, improve interaction between borrowers and
financial institutions, and reduce document requirements.
3. Lack of affordable housing
The problem of a lack of affordable housing also has a negative impact on the development of
mortgage lending. The construction of new housing often does not keep pace with the growth in
demand, which leads to higher real estate prices and lower affordability of housing for the
population. To solve this problem, it is necessary to stimulate the construction of new housing,
develop programs to support developers, improve the conditions for investment in the
construction sector, and implement a policy to regulate housing prices.
Case Study of a Specific Housing Construction Project
An example for analysis is a housing construction project located in the central part of the city.
This facility is a multi-story residential complex that includes several buildings, underground
parking, playgrounds and recreation areas. The significance of this facility lies in its contribution
to solving the city's housing problems and improving the quality of life of its residents.
The project is financed by attracting funds from private investors, bank loans and mortgage loans
for home buyers. The role of mortgage loans in financing the project is key, as they provide
buyers with affordable housing and contribute to the successful implementation of the project.
At the stage of project implementation, some problems arose related to bureaucratic procedures,
a high level of competition in the market and a lack of affordable housing. However, effective
project management made it possible to overcome these barriers and achieve significant success.
The project was completed on schedule, and buyers gained access to high-quality and affordable
housing.
Results and conclusions. To improve the situation in the mortgage lending market and increase
housing affordability, it is recommended to:
Develop new financial instruments that take into account the needs of borrowers and financial
institutions.
Simplify mortgage loan approval procedures, automate and digitalize processes, and reduce
document requirements.
Implement government mortgage lending support programs, including interest rate subsidies
and preferential lending terms for certain categories of citizens.
Stimulate new housing construction through developer support, improving investment
conditions in the construction sector, and regulating housing prices.
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To improve the situation in the mortgage lending market, it is necessary to develop measures to
reduce interest rates, simplify loan approval procedures, and stimulate new housing construction.
An important role in this process is played by government programs to support mortgage lending,
aimed at reducing interest rates, improving lending conditions and supporting the construction of
affordable housing.Conclusion. Further research can be aimed at studying new financial
instruments, developing methods for reducing interest rates, improving interactions between
borrowers and financial institutions, and analyzing the experience of other countries in solving
similar problems. It is important to continue monitoring the mortgage lending market and adapt
strategies and measures for its development in accordance with changing conditions and the
needs of society.
LISTING OF REFERENCES
1. Kuznetsova, L.V. Mortgage lending: theoretical and practical aspects. - Moscow: Finance and
Credit Publishing House, 2016.
2. Makarov, A.V. Regulation of mortgage lending in conditions of economic instability. -
Yekaterinburg: Ural Publishing House, 2019.
3. Blackwell, T. Real Estate and Mortgage Markets: An International Perspective. - Cambridge:
Cambridge University Press, 2018.
4. Aleksandrov, V.V. and Smirnova, O.I. Mortgage lending and housing construction. - Kazan:
Kazan University, 2020.
