The changes are aimed at ensuring:

transparency in case of loan refusal.

Now, in case of refusal to provide a mortgage loan, the bank is obliged to provide the borrower with a written notification with a clear justification of the reasons for the refusal within three working days from the date of the relevant decision. Previously, only a copy of the decision was sent to the borrower without explanation.;

taking into account the debt burden when issuing a loan.

Now, before making a decision on granting a mortgage loan, a mandatory requirement has been introduced to calculate the borrower's current debt burden. The calculation is carried out on the basis of the norms established in the Regulation on Macroprudential Standards for Banks and the requirements for maximum payments on loans and microloans (reg. No. 3618 dated 04/22/2025). This change formalizes the previously recommended approach, according to which banks should take into account the burden on the borrower's budget when issuing loans, avoiding excessive loan terms and financial pressure;

calculation of the loan-to-collateral ratio.

If the subject of the mortgage meets the requirements of the bank, the institution is obliged to calculate the ratio of the loan amount to the value of the collateral. This indicator is used to determine the individual parameters of a mortgage loan and is also regulated by Regulation No. 3618. The valuation of the collateral value can be made on the basis of the valuation report (estimated value), or in accordance with the price specified in the contract of sale of real estate. Previously, such a ratio was also calculated, but without a clear regulatory definition of the methods of assessing the value of collateral.

The document has been published in the National Database of Legislation in the official language and will enter into force on 07/24/2025, Norma reports.