If property buyers can apply for loans in other banks more favorably and conveniently, then there is no need to cooperate with the developer's bank, and it is not mandatory for the developer to designate a bank.
What are the benefits for buyers to apply for loans at designated banks?
1. Banks and developers enjoy the market. As we all know, mortgage loans are generally divided into commercial loans and provident fund loans, which are different in nature and loan process. Because provident fund loans are not for profit, their loan requirements are more stringent, not only to review the qualifications of developers, but also to require developers to sign contracts with provident fund management centers. For banks, mortgages are also very profitable. If you sign a contract with a developer, the developer will choose the most suitable loan bank.
2. Reduce the risk of housing period. At present, the houses basically sold in the housing market are auction houses. Uncertainty and risk determine that the loan bank needs a guarantee, such as the developer's guarantee, and the lender and the developer also need to bear the responsibility for any problems with the house. If the property buyers have already borrowed from other banks, then the developers will have to sign guarantee agreements with different banks, which is very troublesome and unfavorable to the developers.
3. The review process is simple. Applying for a mortgage is not only for buyers to provide information such as bank flow, income proof, credit report, etc. , but also for the developers in the process of lending approval qualification, guarantee, the legitimacy of the relevant documents and materials. If the buyer chooses the bank loan designated by the developer, then the process of the developer can be simplified and the buyer can borrow directly. If the process is completed by the borrower, the progress of the mortgage process and the housing transaction process will slow down, and the bank may not necessarily pay. Moreover, banks, property buyers and developers will have a lot of extra work, which is not very good for the three parties.
4. The cooperative relationship between developers and banks. Since it is cooperation, we certainly hope that both sides will win. For developers, most of the process from land acquisition to final sale is inseparable from the financial support of banks, and the relationship between banks and developers is mutually beneficial. Generally speaking, a bank will cooperate with one or more banks, so that buyers can apply for mortgage loans at the due banks to earn interest, which is also a way of interest feedback and cooperation.