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Economic & Sector Work :: Other Financial Sector Study

Expanding Access to Housing Finance : Task 1. Business and Sustainability Plan for Affordable Housing Finance Pilot Projects

AFFORDABILITY AFFORDABLE HOUSING AFFORDABLE HOUSING FINANCE AFFORDABLE HOUSING LOAN ASSET FINANCING BALANCE SHEET BANK LIQUIDITY BANKING SECTOR BANKING SYSTEM BANKS BARRIER BASIS POINTS BORROWER BUSINESS LOAN BUSINESS LOANS CAPITAL MARKET COLLATERAL CONSTRUCTION CONSTRUCTION FINANCE CONVENTIONAL MORTGAGE CONVENTIONAL MORTGAGES COST ESTIMATES CREDIT ENHANCEMENT CREDIT ENHANCEMENTS CREDIT GUARANTEES CREDIT HISTORY DEPOSIT DEPOSIT RATES DEVELOPMENT BANK DISTRIBUTION OF INCOME DONOR FUNDS DOWN PAYMENT ECONOMIES OF SCALE EMERGING MARKETS EVALUATION CRITERIA EXPENDITURES FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FIXED RATE FIXED RATE LOANS FORMAL FINANCIAL SECTOR HOME IMPROVEMENT HOME IMPROVEMENT LOAN HOME IMPROVEMENT LOANS HOME IMPROVEMENTS HOMEOWNERS HOUSEHOLD INCOME HOUSEHOLDS HOUSES HOUSING FINANCE HOUSING LENDING HOUSING LOAN HOUSING LOANS IMMEDIATE ACCESS INCOME DISTRIBUTION INCOME GROUP INCOME GROUPS INCOME LEVEL INCOME LEVELS INCOMES INFLATION INFLATION RATE INFRASTRUCTURE DEVELOPMENT INNOVATIVE LOAN INTEREST RATE INTEREST RATES INTERNATIONAL BANKS LAND DEVELOPMENT LAND PARCELS LAND TITLE LAND TITLING LAND USE LENDER LENDERS LIMITED ACCESS LIQUIDITY LIQUIDITY CONSTRAINTS LIQUIDITY FACILITY LIQUIDITY MANAGEMENT LOAN LOAN AMOUNT LOAN AMOUNTS LOAN GUARANTEES LOAN PAYMENTS LOAN PRODUCT LOAN PRODUCTS LOAN RATE LOAN SIZE LOAN TERM LOAN TERMS MARKET ENTRY MARKET LENDING MAXIMUM LOAN AMOUNT MFI MFIS MICRO BUSINESS MICRO-BUSINESS MICRO-LOAN MICROFINANCE MICROFINANCE INSTITUTIONS MICROFINANCE LENDING MICROFINANCE LOAN MICROFINANCE LOANS MORTGAGE MORTGAGE BANKING MORTGAGE FINANCE MORTGAGE LENDERS MORTGAGE LENDING MORTGAGE LOAN MORTGAGE LOANS MORTGAGE MARKET MORTGAGE RATE MORTGAGE RATES MORTGAGES NEW MARKET PAYMENT TO INCOME RATIO PENSION PENSION REFORM PILOT LOAN PORTFOLIO RATE OF RETURN REAL ESTATE REAL ESTATES REAL INTEREST REAL INTEREST RATE REAL INTEREST RATES REGIONAL BANKS REGULATOR REGULATORY FRAMEWORK REGULATORY STRUCTURE REPAYMENT RETAIL FUNDS RISK PROFILE RISK PROFILES SALES AGREEMENT SAVINGS SAVINGS DEPOSIT SAVINGS PRODUCTS SHORT-TERM SAVING SLUMS TECHNICAL ASSISTANCE TREASURIES URBAN AREAS URBAN HOUSING
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World Bank, Washington, DC
Africa | Uganda
2013-03-21T15:32:05Z | 2013-03-21T15:32:05Z | 2009-07

The objective of the First Initiative Project in Uganda is to expand the access of households to housing finance, especially modest and lower income households, by introducing new and innovative housing loan products, by introducing innovative loan products combined with affordable housing designs. The project has delivered two studies to the Bank of Uganda: i) a study addressing the financial and banking sector context for housing finance, liquidity and liquidity management, and the resultant potential for use of retail funds for mortgage lending; and ii) a feasibility study for housing finance pilots targeted at modest and lower income households, seeking to introduce innovative loan products combined with lower cost house design in a planned urban setting. This paper, business and sustainability plan for affordable housing finance pilot projects, provides supporting technical detail for the feasibility study for design of pilot projects for modest and lower income households, including the need for more liquidity for lenders involved in lending to lower income households. Two types of pilot projects have been developed: one for starter homes for modest income households and one for an incrementally built home for low-modest income households. The recommended loan products include a down-market or, mini-mortgage, for the starter home and microfinance for housing for the lower income group. The paper: (i) outlines technical details regarding house design and loan product specifications; (ii) recommends the technical assistance and regulatory changes deemed necessary to implement successful pilot; and (iii) provides a brief commentary on actions that would assist such pilots reach sustainability and scale.

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