In some countries, including Belarus, the imperfect legislation in the field of maintenance of housing credits and insufficiently developed stock market complicate financing and slow down rates of housing building. Considering that building is one of stimulators of economic growth in the country, it is necessary to understand the basic problems in the field of attraction of investment means in the given sphere and to create necessary conditions for development the market of housing financing.
The author examines the role of guarantor as one of the means of securing housing credits as well as the international practice of developing mortgage lending.
The original version of this article was published in Bank Bulletin Magazine #31/504 November 2010.