Last week, the temperature in Taiyuan dropped, and the mortgage market was also chilly. After the introduction of a new round of purchase restrictions in the property market, many banks have also adjusted their preferential interest rates for first home loans. As Taiyuan is one of the cities that does not impose purchase restrictions, what adjustments will be made to the first home loan policy, what changes will be made to bank mortgage interest rates, and what problems will be encountered in the process of "business-to-public transfer"?

From the "Notice on Issues Concerning Adjustments to Personal Housing Loan Policies" issued by the People's Bank of China and the China Banking Regulatory Commission, it is clearly stipulated that in cities that do not implement "purchase restriction" measures, household purchases For commercial personal housing loans for ordinary housing, in principle, the down payment ratio is 25%, which can be adjusted downward by 5 percentage points in various locations.

Second-hand housing transactions in Taiyuan City are completed in accordance with the standard of 143 square meters of defined deed tax reduction. For all house purchase registrations processed after October 1, 2016, deed tax payment has been suspended.

This news was confirmed from the Taiyuan Local Taxation Bureau. "Previously, the deed tax standard for second-hand housing transactions was that if the property was less than 143 square meters (including 143 square meters), it would be charged at 1.5 of the total property price, and if it was over 143 square meters, it would be charged at 4." A staff member said. After issuing a notice to adjust tax policies related to real estate, Taiyuan City has stopped the business of halving deed tax. It stands to reason that the original tax rate of 3 will be applied to second-hand housing transactions now. Because Taiyuan City has not yet issued relevant documents, it has to be temporarily suspended.

If an individual purchases an ordinary house of 90 square meters or less, and the house is a family house, the deed tax will be levied at a reduced rate of 1%. Ordinary housing purchased by individuals that does not meet the above regulations shall not enjoy the above preferential policies.

In other words, as long as the house purchased is not an ordinary family residence, regardless of the size of the house purchased, the deed tax rate will be levied at 3, and there will no longer be a 50% discount. The deed tax rate for non-ordinary residences is 4, which is the same as the previous rate. Based on this calculation, if you buy a house of 88 square meters with a total price of 450,000 yuan, for example, regardless of whether it is the first home, you can enjoy the 1.5 deed tax discount, which is 6,750 yuan; if the house is the second home, you will no longer enjoy the discount. Semi-preferential, deed tax must be paid according to 3, which is 13,500 yuan. The target of home purchase has been tightened from individuals to families, aiming to curb real estate speculation in the second-hand housing market, but the policy of enjoying deed tax preferential treatment for the first home should not change.

From the "9.30" policy in 2016 to the tightening of first-time home interest rates in early 2017, coupled with a new round of upgrading of purchase restrictions in the property market. Increase the down payment ratio, discount interest rates from 15% to 10% to 95% or even the "original price", the mortgage loan for the second home must not exceed 25 years, and the loan cannot be subscribed for the house. It can be seen that the adjustment of differentiated housing credit policies has fully sent a signal to the market that housing loan policies are tightening.

It is understood that in August last year, all banks uniformly raised the housing loan interest rate to 15% off. In September last year, after the real estate market policy was tightened, there were rumors in the market that the mortgage interest rate would be raised to 10%. After several rumors, the mortgage interest rate began to be 10% off at the beginning of this year. According to the editor's visit and investigation, some banks in Taiyuan have implemented a 50% discount.

With today’s housing prices, it’s no surprise that most people need a loan of 1 million to buy a house! Today's provident fund loan amount is already a drop in the bucket, and most people have to use combination loans to buy a house.

According to home buyers, because the approval threshold for combination loans is particularly strict, the salesperson does not recommend applying for a combination loan. It would be more cost-effective for him to apply for a business-to-public loan after applying for a commercial loan. It sounds so easy to say, but is it really the case?

The editor learned from the credit manager of a bank in Taiyuan: As long as the loan is repaid for half a year and the real estate certificate is issued, the bank can later accept house buyers for business-to-public loans. But the premise is that only commercial loans can be converted into pure provident fund loans, and commercial loans cannot be converted into combination loans.

With such regulations stuck here, is it really more cost-effective to transfer business to private equity later than to combine loans? Is it possible to transfer a business to a public company if you want to? Is it necessary to switch from business to business after repaying the loan for many years? Today, the editor will give you a solution to the difficult problem you will face when buying a house loan in 2017: Should I apply for a combination loan or negotiate a business transfer later?

Commercial loans can only be converted into pure provident fund loans but not portfolio loans

In the past, when buying a house with a total price of no more than 1 million, most people with units could easily Many provident fund depositors enjoy provident fund loans, but today’s house prices, which easily exceed 1 million, have blocked more and more provident fund depositors from receiving loans.

Ms. Xu, a home buyer who is planning to buy a house near Taiyuan South Railway Station in the near future, is buying a well-decorated house for about 1.3 million yuan and is preparing to borrow 1 million yuan. Her husband has paid a provident fund in Taiyuan for one year, but it is expected that he can only borrow 100,000 yuan. Around this time, the salesperson suggested that she apply for a commercial loan first and wait until her husband's provident fund loan limit was higher before negotiating to convert it into a public loan. However, when signing the loan, the bank's credit manager said that the commercial loan could only be converted into a pure public loan later, and not a combination loan.

Therefore, the following three situations are not suitable for “business-to-public” loans! ! !

1. Personal commercial loans that enjoy ultra-low discounts from banks on their base interest rates are not suitable for application.

For example, if you happen to have the opportunity to enjoy a 30% discount on mortgage interest rates when purchasing a house, calculated based on the current benchmark interest rate, it will be 4.9 × 0.7 = 3.43. The provident fund loan interest rate is 3.25, which is about the same, so there is no need to negotiate a public transfer.

2. If the repayment period of the original commercial loan has exceeded half, it is not recommended to "convert business to business".

For example, if you happen to be in the early repayment period of a commercial loan (such as the first 2-3 years), it is very cost-effective to "convert business to business" at this time. If you are already at the end of the repayment period, such as a 10-year commercial loan, it is not cost-effective to convert it to a provident fund loan in the sixth or seventh year. Because bank interest is generally collected in the past few years.

3. If you plan to pay off all the loans in advance 2-3 years before the loan period, it is not recommended to "convert business to business".

Because in the entire process of business-to-public transfer, you must first obtain the consent of the original lending bank in accordance with the original commercial loan loan contract. During this process, the original lending bank will generally charge any fees due to early repayment as stipulated in the contract. Penalty interest, plus security fees and other expenses incurred during the redemption process, may not necessarily be cost-effective in calculation.

(The above answer was published on 2017-04-06, please refer to the actual current relevant home purchase policies)

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