Research On Mongolian Housing Mortgage Loan Problems

The housing problem is an important indicator of the living conditions of people of all countries.Housing is an integral part of every national policy.In order to solve this housing problem of the people,the mortgage market has become a decisive factor in the country's economic and social development.Since the launch of the "Building a Sustainable Mortgage Financing System Plan" in 2013,the major mortgage market of Mongolia has risen sharply.In 2018,outstanding mortgage loan reached 443.02 billion Tugrik(MNT),of which 75%or 332.07 billion Tugrik(MNT)were loans for the housing mortgage program's loan.Mortgage lenders have reached 938,000,of which 695,000 are borrowed from the program loan.This program loan has greatly helped the residents of Mongolia to improve their accommodation.But it also retains a lot of problems.This paper takes the Mongolian housing mortgage market as the research object.This paper raised questions through situational analysis and used data analysis,country case studies,and comparative analysis to solve problems.And after analyzing the relevant data and the actual situation,it draws out problems that the mortgage loan and the housing supply are not developed together,the mortgage loan is not systematically implemented according to the citizens' income,lack of long-term financing tools,the construction industry is stagnant,and the housing sales has declined.In studying the relevant experiences of other countries,this paper has come up with the following solutions.(1)making the prepayment rate for small apartments to 10%,(2)changing the maximum square meter of the decision of the prepayment rate of 10%to 44 square meters,(3)establishing a contract savings system,(4)establishing a housing provident fund in the long run.In general,in order to solve the problem of sustainable financing of mortgage financing implemented by the government,have to improve the conditions of mortgage loans,create the conditions of mortgage resources provided by commercial banks,or provide mortgage loans to specific income groups through special funds,or by making loans more flexible,bring interest rates to market levels and open up secondary market opportunities.And the government needs to participate in the housing market through other ways,such as interest subsidies and advance payment subsidies.