KIEV, Sept. 22 – Mortgage lending in Ukraine will resume no earlier than late in 2011, according to the head of the retail product development department at Kiev-based VAB Bank, Anton Shaperenkov.

"A mortgage crediting market recovery is possible when the fall in key economic sectors is replaced by growth. It will take at least two years for this to happen," he told Interfax-Ukraine on Monday.

He said that at present, there are no reasons to cut interest rates on mortgage credits, which are estimated at some 25-28% in hryvnias.