ЕФЕКТЪТ НА ЕВРОПЕЙСКИТЕ КРЕДИТНИ РЕГУЛАЦИИ ВЪРХУ ИПОТЕЧНОТО КРЕДИТИРАНЕ И ИНВЕСТИЦИИТЕ В ИПОТЕЧНИ ОБЛИГАЦИИ
THE EFFECT OF EUROPEAN CREDIT REGULATIONS ON MORTGAGE LENDING AND INVESTMENT IN MORTGAGE BONDS

Summary/Abstract: Mortgage lending retains its important social function even after the crisis, but continues to pose a serious financial risk to both consumers and lending institutions. The evolution of lending over the last ten years has intensified competition in the mortgage market and is closely linked to the dynamic changes in real estate prices. Reducing interest rates in Europe determines the increased demand for mortgages and increases the share of purchased real estate. We see something familiar - aggressive lending, accumulation of financial risks caused by high housing prices and a real opportunity to "balloon the market" with low economic growth and negative interest rates on deposits. The positive expectations are related to the improvement and unification of credit regulations in the EU regulations after the crisis and their observance, which should provide for the necessary balance for the development of the real estate market, mortgages granted by banks and investments in their mortgage bonds. . As a result of the research, the author presents as a major conclusion that: "the implementation of the adopted international regulatory mechanisms, which include enhanced external and internal audit within the EU, should place a permanent priority on banking and financial supervision in Bulgaria; effective monitoring of the financial sector, investment structure and investment spheres of all institutional investors under their control. This will ensure sound lending from banks and financial sustainability in the sector, better protection for consumers of mortgage loans and investments in mortgage bonds. "

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