Taiyuan real estate development enterprises cooperate with Taiyuan Housing Provident Fund Management Center to provide phased guarantee for buyers to apply for housing provident fund loans, and no deposit is charged. Previously, development enterprises had to pay 5% of the total loan as a deposit to ensure the property of the owners. According to the new regulations, if a real estate development enterprise provides a guarantee for the owner of its house, it only needs to apply to the provident fund management center, actively negotiate with the provident fund center, determine the amount of "overdue loans for compensatory provident fund" other than the key supervision funds, and sign the phased guarantee cooperation agreement. Among them, the "overdue loan for compensatory provident fund" funds are paid by the provident fund management center to the housing provident fund loan funds in the pre-sale fund supervision account of real estate development enterprises. This practice reduces the economic burden of developers.
Source: Taiyuan Daily