Sino-Singapore Jingwei Client, March 14th: Recently, the Hainan Provincial Department of Housing and Urban-Rural Development issued the "Notice on Further Regulating the Use of Housing Provident Fund Loans for House Purchases in Commercial Housing Sales" (hereinafter referred to as the "Notice") , requiring real estate development companies and housing sales intermediaries not to obstruct or refuse house buyers’ normal use of housing provident fund personal housing loans to purchase houses.
The "Notice" requires that when buyers who meet the housing provident fund personal housing loan conditions purchase commercial housing, real estate development companies and housing sales intermediaries shall not require buyers to make a one-time payment or make a one-time payment to give priority to house selection. , raising house purchase prices, reducing price discounts, and uncapped real estate properties, in disguised form, requiring employees to voluntarily give up their housing provident fund loan rights, guiding employees to apply for commercial housing loans, and obstructing or denying home buyers the normal use of housing provident fund personal housing loans (including combination loans, The same below) purchase a house. House buyers who use housing provident fund personal housing loans to purchase a house should have the same rights to choose a house as one-time payment or other payment methods such as commercial loans.
The "Notice" proposes to further optimize the housing provident fund personal loan process, simplify loan processing requirements, reduce loan approval links, and strictly control loan approval time limits. A decision will be made within 10 working days from the date of acceptance of the loan application (entered into the "Internet" information system of the Hainan Provincial Housing Provident Fund Administration) to approve the loan or not, and notify the applicant. If the loan is not approved, the reasons must be stated.
The "Notice" clarifies that after each real estate enterprise obtains the "Commodity Pre-sale License" and the building has been capped, it should promptly register with the Housing Provident Fund Administration Bureau where the building is located to record the location and address of the sales building. House sales collection account number and other relevant information, submit a housing provident fund loan project cooperation application, establish a loan cooperation relationship, provide relevant information for home buyers to apply for housing provident fund loans, and facilitate employees to apply for housing provident fund loans. For employees who have needs and have not gone through housing provident fund loan real estate access registration, the real estate authorities will postpone the opening of the online contract signing system for the real estate project.
The "Notice" requires the Hainan Provincial Housing Provident Fund Administration to further strengthen the supervision of the business of the loan banks, coordinate and urge the loan banks to strengthen cooperation with real estate development companies, and enhance service awareness. Agree on the material handover, processing, loan time limit, post-loan management, etc. in the loan process, refine the specific assessment matters, clarify the division of responsibilities, rights and obligations, etc.; each lending bank must formulate relevant loan material circulation ledgers to ensure that each The material handover at each stage can be queried and tracked, which improves the efficiency of loan approval and issuance, while safeguarding the legitimate rights and interests of employees who pay housing provident funds. If the entrusted lending bank fails to handle the matter within the agreed time limit, the Provincial Housing Provident Fund Management Bureau will deduct the handling fee accordingly.
The "Notice" emphasizes that the real estate authorities of cities and counties in Hainan Province must strengthen market supervision. When applying for a "Commercial Housing Pre-sale License", real estate development companies are required to provide written documents not to refuse home buyers to use housing provident fund loans. Make a commitment and announce it at the real estate sales site. After the "Commercial Housing Sales Contract" is signed, all parties to the contract should actively cooperate and go to the housing management department and real estate registration department to handle relevant procedures in a timely manner, and provide the house-purchasing employees with the necessary materials to apply for housing provident fund loans.
According to the "Notice", deposit-paying employees can complain about the refusal of housing provident fund loans by real estate development companies and housing sales intermediaries through channels such as the 12345 citizen hotline. Based on the clues of the complaint, the real estate authorities and housing provident fund bureaus of all cities and counties in Hainan Province must organize a joint investigation within 5 working days to verify the facts and circumstances of the violations and take serious punishment in accordance with laws and regulations.
The "Notice" also requires that the real estate authorities of all cities and counties in Hainan Province should work with the local housing provident fund bureaus to strengthen the investigation and handling of illegal enterprises and institutions, and severely investigate and punish behaviors that damage the housing provident fund loan rights and interests of employees.
Once verified, they will be ordered to make corrections within a time limit, suspend online signing or stop issuance of pre-sale licenses; if the violations are serious and refuse to make corrections, they will be notified and publicly exposed, and the relevant violation information of development companies and housing sales agencies will be recorded as bad Behavior records may be included in the "blacklist" and joint punishment will be implemented.
For some employees who purchase new properties that have been developed and constructed on land transferred before September 28, 2017 or built with prefabricated construction methods, they are unable to apply for housing provident fund loans because the properties have not been capped, the "Notice" clarifies According to the Hainan Provincial Housing Provident Fund Management Bureau, the Hainan Provincial Housing Provident Fund Administration should open the acceptance and approval of "business-to-public" business in stages according to the needs of depositing employees, and refine the application conditions, application materials, processing procedures, etc.
According to media reports in February, some home buyers in Hainan reported that some properties in Haikou City had obtained pre-sale licenses before the ceiling was capped. In order to quickly withdraw funds, developers required home buyers to pay the down payment and handle business transactions within a time limit. However, the Hainan Provincial Provident Fund Management Bureau stated that provident fund loans cannot be applied for if the property is not capped.
The developer requires buyers to "choose one of two": either full payment or a commercial loan. But in fact, commercial loans are not allowed for uncapped properties, and both developers and banks are suspected of issuing commercial loans in violation of regulations and rejecting provident fund loans.
The report said that since the property has not yet been capped, provident fund loans cannot be applied for according to relevant policies. If you take a commercial loan, a 2 million house will have to pay an extra 1,000 yuan in interest per month. Calculated based on a loan term of 30 years, the total interest cost may be more than 300,000 yuan.
The report also pointed out that Hainan has previously canceled the "business-to-public" business, and it is impossible to transfer the commercial loan back to the provident fund loan. This means that on the one hand, home buyers will have to "bear" more interest costs, and on the other hand, the balance in the provident fund account will continue to "sleep."