2 1 Century Business Herald reporter Kong reports from Beijing.

The policy logic line of stabilizing the property market not only lowers the threshold of buying houses, but also extends to the transaction link.

Recently, the "mortgage transfer" mode of second-hand housing has been implemented in more cities, aiming at simplifying the transaction process of second-hand housing, reducing transaction costs and enhancing the vitality of the second-hand housing market.

According to the survey provided by Zhongyuan Real Estate Research Institute to the reporters of 2 1 Century Business Herald, at present, cities such as Ning, Su, Ji, Kun, Shenzhen, Tianjin, Zhu, Fu and An have tried out the model of "transfer with mortgage". Recently, Hainan also announced that it would explore the pilot registration of "mortgage-based transfer" for unsecured second-hand houses with housing provident fund loans. So far, according to the reporter's incomplete statistics, 10 cities have joined the "mortgage transfer" camp.

"Mortgaged transfer" means that the mortgaged property can complete the transaction, transfer and issue new loans without repaying the loan in advance. In other words, it saves the foreclosure cost of the original owner and the time cost of fund-raising, and greatly reduces the transaction difficulty of second-hand houses.

The promotion of "innovation to stimulate the vitality of real estate transactions" in several cities is also the practice of "making full use of the policy toolbox because of the city's policy" and "allowing local" one city, one policy "to flexibly use credit", which better supports the rigid release of housing and the demand for improved housing.

Many people in the industry interviewed by 2 1 Century Business Herald affirmed this move, but also revealed that it is difficult to implement the policy, and the real estate registration center needs to further strengthen communication with financial institutions, fund depository institutions and other systems. After breaking through the obstacles, this is a good trend, or more cities will follow suit.

Explore "transfer with mortgage" in many places

Recently, Hainan issued a notice on printing and distributing the Coordinated Action Plan for Epidemic Prevention and Control and Economic Recovery in Hainan Province and the Special Measures for Helping Enterprises with Stable Economy in Hainan Province (Version 2.0) (hereinafter referred to as the "Special Measures"). In the "Special Measures", the "stable investment in real estate development" was specifically mentioned, in which the down payment ratio of the second suite was reduced to 40%, and the second-hand house "remortgage" was registered as a pilot, which aroused widespread concern from the outside world.

Since the beginning of this year, the national real estate policy environment has been continuously optimized, but the overall policy effect is still not obvious, and buyers' home ownership sentiment and market expectations are still weak. Take Hainan as an example. According to the data of the Central Reference Institute, the sales area of commercial housing in Hainan was 3.809 million square meters from June to July 2022, down by 65.438+07.0% year-on-year, of which the sales area of commercial housing in Haikou decreased by 26.9% year-on-year.

Reducing the down payment ratio of the second suite and increasing the convenience of second-hand housing transactions in Hainan is considered to effectively reduce the transaction cost of second-hand housing, improve transaction efficiency and promote housing consumption.

In fact, Nanjing, Suzhou, Jinan, Kunming, Shenzhen, Jinhua, Zhuhai, Fuzhou, Xi 'an and other cities have announced the launch of the "mortgage transfer" model, and some cities have already handled the first transaction business.

Among them, the Jinan Municipal Government introduced that "mortgage transfer" has been successfully piloted in many banks such as CCB, ICBC and Bank of Beijing, and will be fully implemented in the second-hand housing market in the city; Through cooperation with more than 50 banks such as China Construction Bank and Nanjing Bank, Nanjing has completed the mortgage transfer registration of 158 houses, with the transaction amount exceeding 500 million yuan.

Under the mode of "transfer with mortgage", buyers often only need to go to the bank once to do five things well: foreclosure, mortgage, transfer, loan and mortgage.

According to Du Jiangang, director of Jinan Real Estate Registration Center, after the implementation of "mortgage transfer", buyers and sellers enter a window, submit a set of materials and handle one business at a time. Buyers and sellers do not have to run errands, and the online application can be completed through the bank for "double advance notice registration" of transfer and mortgage. Transfer registration and mortgage registration can be handled at the same time, and the mortgage notice registration will be automatically transferred to this registration. The seller can get the house payment and settle the original bank loan on the day of transfer registration or the next day.

It is worth noting that in order to ensure the financial security of second-hand housing transactions, Jinan introduced the process of "transfer with mortgage" and introduced the link of notarization "deposit account". That is, before the transaction is completed, all funds are supervised by this account to ensure the safety of funds. Once the transaction is risky or unexpected happens to both parties, the funds will be returned in the original way to avoid fund disputes.

This makes the second-hand housing transaction efficient and simple, and also ensures the safety of funds.

What is the impact on all parties?

In the traditional mode in the past, in the process of second-hand housing transaction, the three registration links, namely, the cancellation of the seller's mortgage, the transfer of the second-hand housing and the establishment of the buyer's mortgage, are indispensable and the order is clear. In order to transfer ownership, buyers and sellers must first cancel the mortgage of the original loan bank, which requires a lot of capital costs and complicated transaction processes.

"In the past, the transaction cost of second-hand houses was too high and the cycle was too long. It took 6- 12 months, of which foreclosure and loans accounted for half, which hindered the demand for' selling one and buying one', affected the transaction process and impacted the virtuous circle of real estate. " Li, chief researcher of the Housing Policy Research Center of Guangdong Urban Planning Institute, said.

And "transfer with mortgage" will effectively alleviate the trouble of "bridge funds", reduce the "entry threshold" of houses, increase the selectivity of buyers and sellers, reduce the circulation cost of second-hand houses in the market, clear the trading obstacles and further enrich the vitality of the second-hand housing market.

Zhang Dawei, chief analyst of Zhongyuan Real Estate, believes that from a higher level, the "mortgage-for-house" policy will help speed up the demand for housing exchange, promote people to buy second-hand houses and settle in cities, and further promote a virtuous circle of the real estate market.

According to Zhang Dawei, in the implementation process, most "remortgage" needs to be operated in the same banking system, such as the mortgage made by the original owner in CCB, and the new owner must also be in CCB to realize remortgage, while the small banks with relatively favorable mortgage interest rates generally do not implement this policy. "So the transaction cost saved by 1%-2% is likely to level off the mortgage interest rate." He said.

In fact, for banks, "changing with mortgage" is undoubtedly a great innovation. In the second-hand housing transaction under the traditional mode, no bank is willing to bear the risk that the seller will not repay in time after the "secured transfer" without ensuring the safety of funds.

In order to change this situation, Jinan's practice is worth learning. Jinan Real Estate Registration Center streamlined the application materials and shortened the processing time, and merged the mortgage establishment registration, transfer registration and mortgage cancellation registration on the same property according to the application; Connect with financial institutions and fund depository institutions in a timely manner, build a business platform, and feed back information in a timely manner to ensure that information can be accurately obtained in the process of transfer and mortgage. Even if the transfer cannot be made, relevant businesses can be stopped simultaneously and returned at the same time to ensure transaction safety.

With the convenience and security of the platform provided by Jinan Real Estate Registration Center, many banks such as Industrial and Commercial Bank of China, China Construction Bank and Bank of Beijing have taken the lead in implementing the provisions of the Civil Code and provided support for the transfer of mortgaged properties in various ways, and have successfully handled dozens of businesses such as provident fund loans, interbank loans and interbank loans.

Jinan real estate practitioners told 2 1 Century Business Herald that the increase in second-hand housing transactions also means that bank loans will increase, which is a virtuous circle for the industry.

In this process, the intermediary may be the only subject affected in the business. Zhang Dawei said that in the past, in the process of mortgage loans, bridge loan was generally provided by an intermediary, and the cost was relatively high. In the "transfer with mortgage" mode, there is no need to redeem the building first, which saves the interest and guarantee fees of both parties in the process of foreclosing the building.

"Overall, the advantages of' mortgage transfer' include saving capital costs, improving transaction efficiency, stimulating market vitality and promoting housing consumption." Chen Wenjing, director of market research of the Index Division of the Central Reference Institute, further pointed out: "It is expected that more cities will follow suit in the future."