The "down payment loan" was stopped, and buyers looked around for substitutes.
Property buyer lin li (not her real name) said that she recently bought a house in Guangzhou. The property price in Tianhe District of Guangzhou is close to 30,000 yuan/square meter, and the down payment is 6,543.8+0,000 yuan, but she still needs 500,000 yuan.
If in early March, she can find a P2P platform down payment. Generally, the down payment loan amount does not exceed 50% of the down payment, and the longest period is 3 years. According to Yingcan's data, the loan interest rate of down payment loan is relatively low, and the monthly interest rate is 0.62%- 1% (note: simply converted annualized income is 7.44%- 12%). This interest rate is a good choice for buyers, compared with the comprehensive bank fees 18%-22% credit loans in the previous year.
However, after the down payment disappeared, Li Lin consulted alternative products everywhere, and bank credit loans were his focus.
In fact, Li Lin is not a case. After the down payment was stopped, according to the reporter of 2 1 Century Business Herald, some rigid buyers with insufficient down payment were affected and turned to find substitutes.
A person in charge of a P2P platform who has made a down payment loan told reporters that there are quite a few buyers with down payment loans. Previously, only on this platform, there were 30 million down payment loans every month. Similar products generally have four characteristics: credit loan, annual interest rate of about 10%, loan period of less than 3 years, and loan amount of up to 500,000 yuan.
Which credit instruments are replacing down payment?
After consulting a number of banks, small loan companies and P2P platforms as buyers, some media reporters found that under the premise of compliance, there are some products on the market that can be used as substitutes for down payment loans, such as bank credit loans, P2P platform foreclosure loans, and small loan companies' products for real estate financing.
"Some loans are not called down payment loans on the surface, but they can be down payment loans." The person in charge of a small loan company told the reporter that according to the regulations, the loan cannot be used for the down payment of real estate, and the loan should explain the purpose of the funds. But if the buyers say that the loan is used for capital turnover, there is no problem. "From another point of view, it is equivalent to the money at home being used for the down payment of house purchase, so the funds are tight, so the loan is used for capital turnover."
"Consumer credit is the most suitable substitute for down payment loans." A person in charge of P2P platform said that it is difficult for ordinary small loan companies and P2P platforms to carry out such business, because such loans have no collateral, have high requirements for borrowers' credit reporting, and the risks are difficult to control, so they need to be connected with the bank credit reporting system. Therefore, the main providers of such products are banks.
By inquiring about the credit products of various banks, it is found that most of them are similar. According to different people, it can be divided into elite loans (civil servants, teachers, doctors, institutions and other occupations), wage loans (ordinary units) and commercial loans (businessmen).
The loan amount ranges from 50,000 to 500,000, and the annualized rate also varies greatly, ranging from 6.5% to 18%. In this regard, some insiders said that in fact, with other expenses, the comprehensive cost of credit loans of many banks can reach 18%-22%.
In other words, although banks and private finance no longer use the term down payment loan, in fact, down payment loan has existed for many years. After being suppressed, the demand is still there and may appear in other forms, such as consumer credit loans and decoration loans.
Reminder: Lenders need to weigh the risks themselves.
In fact, whether it is a "credit loan" or a "decoration loan", its purpose is consumption rather than investment or buying a house. Some banks may prohibit the money from entering the property market or the stock market, but some will not.
In order to prevent violations and risks, banks will also conduct regular post-loan inspections after the "credit loan" is put into operation. In addition to regular interviews, they can also inquire about the flow of loan funds, but there are also "gray areas". If the lender transfers the money to other cards or lends it to others for investment, the post-loan inspection may be less accurate. However, as a lender, you have to weigh the future risks. For example, in the next three years, in addition to the mortgage itself, you need to pay a large amount of "credit loans" to the bank every month. Whether you and your family will be at a loss because of this needs careful consideration.
(The above answers were published on 20 16-03-2 1. Please refer to the actual situation for the current purchase policy. )
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