Real estate developers do not accept provident fund loans. Personally, I think it can explain many situations. The specific analysis is as follows:
0 1. indicates that developers may be short of funds and have repayment pressure.
An inch of time and an inch of gold, time is money, which is a perfect description for real estate developers. The cash flow of developers is tight and the debt ratio exceeds 70%. If you delay one day, you will delay one day.
Generally speaking, normal commercial loans are faster, which can help developers withdraw funds and reduce bank interest expenses. However, the provident fund loan process is cumbersome and the procedures are more troublesome.
According to statistics, the lending speed of provident fund loans is about one month slower than that of commercial loans. There are even cases where the formalities took a week and the bank loan was issued more than two months later. This is obviously unacceptable for developers with tight capital and high turnover requirements.
02. The developer's qualification is not enough, which does not meet the provident fund loan application policy.
It is not easy for developers to apply for housing provident fund loans successfully.
General developers need to review the qualifications and processes through the local provident fund center. Including whether the most basic five certificates are complete, whether the enterprise pays taxes normally, and whether other related matters meet the management regulations of the provident fund center.
Only after the developers meet the standards and pass the audit can they sign an agreement with the provident fund center to support consumers to use provident fund mortgage loans to buy houses. If the developer has irregular factors in a certain link, it will affect the handling of provident fund loans, and it is impossible to legally sign an agreement, so the property will naturally not accept provident fund loans.
03. Provident fund loans are minority loans, and developers are unwilling to spend a lot of manpower and material resources to help customers handle them.
Even now, not all units will help employees pay the provident fund. Some private or private enterprises with relatively weak operating profits usually choose to pay only five insurances for their employees and give up the provident fund payment.
Relevant data show that less than 10% of people in China have actually paid the provident fund. There will be fewer people who meet the conditions of housing provident fund loans, resulting in the fact that the current provident fund loans are only a few loans.
The above also mentioned the difficulty and complexity of signing an agreement between the developer and the provident fund center. Developers also need to pay enough deposit and hire intermediaries to assist them. Therefore, smart developers will not do things that consume too much manpower, material resources and financial resources for a small number of people, which is not cost-effective and makes them suffer.
04. It may also indicate that the sales of real estate are better, so it is unnecessary to sell, and the seller is dominant.
In addition to the above situation, there is another possibility that the real estate sales are better, and developers are not worried about not selling. Therefore, developers can ask not to accept provident fund loans and refuse some customers.
This is because, from the perspective of housing provident fund loan policy, it is more conducive to property buyers, mainly reflected in the fact that the loan interest rate is not as high as that of commercial loans, that is, the interest expenditure is relatively low.
And this touches on some practical interests of developers and banks, so it is unreasonable but common for some properties not to accept provident fund loans.
In short, when we buy a house, if the developer refuses the provident fund loan, we should learn to analyze the reasons from multiple angles and know how to take legal measures to safeguard our rights and interests. After all, buying a house is something that deserves our caution.
Buying a house now, why can't many properties use provident fund loans?
Apply for personal housing provident fund loan from China Bank, and intend to purchase commercial housing under construction. When applying for provident fund loan, you should know whether the purchased commercial housing under construction has been filed in the provident fund center. If the property is not filed, you can't apply for provident fund loans, and you need to urge the developers to go through the filing procedures as soon as possible. (Affordable housing needs to be filed by the developer before it can be applied. First-hand existing houses and second-hand existing houses are not restricted by the housing warehouse. However, the second-hand building stock commercial housing needs an official evaluation report issued by the evaluation company. )
What our center requires for the record is the auction of property, with the purpose of preventing the auction from being completed, which not only prevents the loan risk, but also indirectly protects the risks faced by buyers.
Because there are differences in policies and requirements for individual housing provident fund loans in housing provident fund management centers around the country, you need to consult the provident fund loan business outlets in detail or consult the local provident fund management center.
The above contents are for your reference. Please refer to the actual business regulations.
What if the developer does not support the provident fund loan in the house purchase loan?
Mr. Zhang took a fancy to a real estate and wanted to borrow money through a provident fund loan with a lower expected annualized interest rate. However, real estate sales staff said that cooperation with CCB does not support provident fund loans because of cumbersome procedures. Mr. Zhang bought the first suite and the conditions for applying for provident fund are also met. How should this matter be solved?
1. Mr. Zhang Can made provident fund loans, and the salesperson's words were very enlightening.
For developers, there is no essential difference between provident fund loans and commercial loans, mainly on the bank side. The procedures of provident fund loans are indeed more troublesome than commercial loans, and for banks, the benefits of provident fund loans are less than commercial loans (if nothing else, the expected annualized interest rate of provident fund loans is much lower than that of commercial loans, and the expected annualized interest rate of commercial loans can still rise), so banks definitely hope that customers can make commercial loans.
As for whether customers use provident fund loans or commercial loans, this is their own right. Developers and banks have no right to interfere and refuse customers to use provident fund loans (provided that you meet the conditions of provident fund loans). If the developer cooperates with the bank when buying a house, and the bank says that the provident fund loan is not for the benefit, you can completely choose to change the loan bank and approve the provident fund loan. Therefore, if you meet the conditions of provident fund loans, and the developer cooperative bank insists on not giving provident fund loans, you can completely change to another bank. In addition, you can also complain to the local banking regulatory bureau.
2. The developer and the bank are only cooperative, and Mr. Zhang is free to choose the loan bank.
Which bank the developer cooperates with does not mean that the developer specifies that the buyers must borrow from the bank. It just means that there will be people from cooperative banks in the sales center of the developer, and customers don't have to go to the bank outlets to go through the formalities themselves, which can save some trouble, that's all.
If you don't want to borrow from the developer's cooperative bank, go out and borrow from the bank yourself. Upon completion, the bank will pay the loan to the developer as the purchase price. To put it bluntly, it is to borrow money from banks to buy a house. After the loan arrives, the developer has paid the full amount (the down payment plus the bank loan should be equal to the total purchase price), so the developer should give the house, and the buying and selling relationship between Mr. Zhang and the developer will be over. What is left is the loan relationship with the bank. As long as the bank is repaid monthly, the loan relationship of paying off the principal and interest will be over. Provident fund loans and commercial loans have the same meaning, except that provident fund loans can be repaid by withdrawing provident fund every year or every month. Mr. Zhang Can takes the annual withdrawal of provident fund to offset loans and early repayment of commercial loans as a meaning, but the source of funds is the balance in the provident fund account and the cash in the hands of the buyers themselves.
3. If Mr. Zhang has already paid the deposit, the approval for buying a house has also come down, and the temporary loan bank is required to make a provident fund loan. The developer said that the refund will be deducted from the liquidated damages. How to solve it?
Mr. Zhang didn't say that he wouldn't buy this house, so it doesn't involve breach of contract, and there can't be a clause in the contract that can't use provident fund loans. So there is no problem of checking out. Mr. Zhang only needs to find the local banks that have the authority to apply for provident fund loans (generally speaking, the four major state-owned banks and Bank of Communications have the authority to apply for provident fund loans), and clearly tell them that they want to apply for provident fund loans, and the rest of the procedures are basically banks. As for what materials need to be provided, Mr. Zhang should at least provide the ID number, provident fund account number and inquiry password, and specifically ask the bank.
Is it legal for real estate developers not to support provident fund mortgage projects?
It is illegal for real estate developers not to support provident fund to mortgage real estate.
If the provident fund loan is rejected, it can be solved through the following channels:
According to the "Regulations on the Management of Housing Provident Fund" and other relevant laws and regulations, if the developer refuses to apply for provident fund loans, the municipal real estate department will order him to rectify, and if he refuses to rectify, he will be deducted from the credit file and publicized.
What conditions do individual housing provident fund loans need to meet? The main contents are as follows:
1. The borrower has full capacity for civil conduct;
2. Have the official residence or valid residence status in this city;
3. Have stable economic income, good credit and the ability to repay the principal and interest of the loan;
4. The housing provident fund shall be paid normally before the loan, and it shall be paid continuously for more than half a year;
5, can provide a valid contract or agreement for the purchase of owner-occupied housing;
6. In the purchase contract, the borrower and the purchaser must be consistent, and the person who purchases the property right (except the spouse) must issue a written commitment to agree to the mortgage of the house;
7, with not less than 30% of the purchase value of owner-occupied housing (second-hand housing more than 40%) of its own funds;
8. The borrower agrees to handle housing mortgage loan and insurance;
9, the purchase of commercial housing, developers should provide phased guarantee and report the relevant credit materials;
10. The borrower agrees to open a personal account with the loan undertaking bank, and agrees that the loan undertaking bank directly deducts the loan principal and interest from the account every month.
Why can't some developers use provident fund loans for their properties?
As different housing provident fund management centers have different policies and requirements for individual housing provident fund loans, please consult the local China Bank business outlets or provident fund management centers for details.
The above contents are for your reference. Please refer to the actual business regulations.