A. Legal and Regulatory Framework
A.1 Legal and Regulatory Framework
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Basis of the legal system: Civil, Common, Islamic, Other? (Describe) | Civil | Country Editor | A.1.1 | ||
| Are there specific laws that deal with mortgages? | Yes | Country Editor | A.1.2 | ||
| Registration/Transfer of titles: | A.1.3 | ||||
| Does the law clearly define different types of property rights? | Yes | Country Editor | A.1.3.1 | ||
| Are property rights easily transferable? | Yes | Country Editor | A.1.3.2 | ||
| Identify barriers to the registration/ transfer of property title. | Various cases, which can be summarized as follows: Cost; Holder of title deed may differ from seller; Restrictions on minimum plot size of farm land, however small plots being transferred in reality; fraud based on inexperience of others; lack of consent of family members | Country Editor | A.1.3.3 | ||
| Typical number of days needed for the transfer of title | 32 | 32 | 32 | WDI | A.1.3.4 |
| Can liens be effectively enforced? | No | Country Editor | A.1.4 | ||
| Are there legal constraints on the types of mortgage products that are permitted? | No | Country Editor | A.1.5 | ||
| Are there legal constraints on mortgage features? | No | Country Editor | A.1.6 | ||
| Interest rate caps | No | Country Editor | A.1.6.1 | ||
| Loan-to-Value cap | No | Country Editor | A.1.6.2 | ||
| Payment-to-Income maximum | No | Country Editor | A.1.6.3 | ||
| Other | No | Country Editor | A.1.6.4 | ||
| Are there consumer rights for mortgage lending? | Yes | Country Editor | A.1.7 | ||
| Are there disclosure requirements for mortgage lending? | Yes | Country Editor | A.1.8 | ||
| Is there specialized legislation covering: | A.1.9 | ||||
B. Housing Finance Subsidies
B.1 Subsidies to Housing Finance Institutions
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Are there subsidized funding sources for mortgage lenders? | No | Country Editor | B.1.1 | ||
| Special government lines of credit | No | No | B.1.1.1 | ||
| Government supported liquidity facility | Yes | Country Editor | B.1.1.2 | ||
| Labor or other tax funds for mortgage lending | No | Country Editor | B.1.1.3 | ||
| Tax breaks on mortgage bonds or RMBS | Yes | Country Editor | B.1.1.4 | ||
| Loss and/or cash flow guarantees for RMBS | No | No | B.1.1.5 | ||
| Other | No | Country Editor | B.1.1.6 | ||
| Is the lending side of the housing finance system subsidized? | No | Country Editor | B.1.2 | ||
| Shared credit risk through public/private mortgage insurance | No | Country Editor | B.1.2.1 | ||
| Guarantees for mortgage loans | No | Country Editor | B.1.2.2 | ||
| Other | No | Country Editor | B.1.2.3 |
B.2 Subsidies to Households
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| Are there subsidies to households on housing finance? | Yes | Country Editor | B.2.1 | ||
| Interest rate subsidies by special government funds | No | Country Editor | B.2.1.1 | ||
| Buy-down of monthly/interest payments | No | Country Editor | B.2.1.2 | ||
| Down-payment subsidies | No | Country Editor | B.2.1.3 | ||
| Subsidies to savings for mortgage loans | No | Country Editor, MIFOTRA (Ministry of Public Service and Labor) | B.2.1.4 | ||
| Reach of subsidies in 2.1.1 to 2.1.4 ? | B.2.2 | ||||
C. Taxation
| Variable | End of 2017 | End of 2016 | End of 2015 | Sources | Var ID |
|---|---|---|---|---|---|
| What taxes apply to Residential Real Estate? | C.1 | ||||
| Tax on property (home-owners) | Yes | Country Editor | C.1.1 | ||
| Property transaction taxes (purchase/selling) | Yes | Country Editor | C.1.2 | ||
| Mortgage transaction taxes | Yes | Country Editor | C.1.3 | ||
| Tax on mortgage interest pmts | Yes | Country Editor | C.1.4 | ||
| Tax on capital gains on property | No | RRA Tax Handbook 2017 | C.1.5 | ||
| Other | Yes | Country Editor | C.1.6 | ||
| Are there tax benefits on rental properties? | No | Country Editor | C.2 | ||