Chengdu Provident Fund Loans will implement new policies from March 15th

Recognition of second house, house and loan. Knock on the blackboard, Chengdu Provident Fund loan policy will be adjusted!

On January 29, the Chengdu Housing Provident Fund Management Center issued a notice on the issuance of the "Chengdu Housing Provident Fund Individual Housing Loan Implementation Rules." The implementation details will come into effect on March 15, 2019 and will be valid for five years.

What are the biggest changes in the New Deal? What controls need to be adjusted? On January 30, West China Metropolis Daily and Cover News invited the Chengdu Housing Provident Fund Management Center to interpret the new regulations. What are the seven major changes, including the adjustment of housing provident fund loan to purchase a second home to "subscribing a house and subscribing for a loan"? Come and take a look.

Change 1

Employees with loans from other places

No longer need Chengdu household registration

According to the Chengdu Housing Provident Fund Payment and Deposit Management Measures and the relevant ministries and commissions According to relevant regulations on off-site loans, provident fund loan recipients are no longer limited to employees who pay provident fund in this city. Provident fund loan objects are expanded to employees who make regular deposits in this city (including individuals who make voluntary deposits) and employees who make deposits in other places. The revised "Details" clarify that employees who normally pay housing provident funds at provident fund centers outside this city (hereinafter referred to as off-site centers) can apply for provident fund loans from the Chengdu Provident Fund Center. The requirement that employees receiving loans from other places must have Chengdu household registration has been cancelled, and the loan conditions for employees with deposits in this city have been consistent, achieving "the same treatment" as employees with deposits in this city.

Change 2

The cumulative number of provident fund loans

should not exceed two times

In order to further reflect the national requirement of "housing is for living, not for speculation" , the revised "Details" added a provision that after the borrower's first provident fund loan is settled, the borrower can apply for a provident fund loan again, but the cumulative number of provident fund loans shall not exceed 2 times.

Change 3

The identification of second homes is “recognizing the house and taking out the loan”

The detailed changes in the identification of second homes are possible changes for home buyers in this new policy adjustment The one with the greatest impact. The revised "Details" have adjusted the standards for identifying the number of housing units for loans. Houses in the name of the borrower, unpaid housing loans, and housing in the name of minors will be included in the calculation of the number of housing units, that is, "House Recognition and Recognition". "Loans" and strictly define the standards for determining the number of housing units.

Specifically, the standards for determining the number of housing units with provident fund loans after the New Deal are:

(1) If it falls under the following circumstances, it will be deemed to be the purchase of a first home, and the first home provident fund loan policy will be implemented :

No home and no outstanding home loan.

(2) If one of the following circumstances falls under one of the following circumstances, it will be deemed as the purchase of a second home and the provident fund loan policy for the second home will be implemented:

1. There is a home but no outstanding balance housing loan;

2. No house but an outstanding housing loan;

3. Have a house and an outstanding housing loan, and it is the same A house (supporting information such as loan contract and house ownership information must be provided).

(3) If it falls under one of the following circumstances, it will be considered as purchasing a third or more house and no loan will be granted:

1. There are two or more houses;

2. There are two or more outstanding housing loans;

3. There is one housing and one outstanding housing loan, and they are not the same housing.

Change 4

If there is a problem with your credit report, you may be denied a loan

Learning from the experience of industry centers and commercial banks, the revised "Details" adjust the overdue records The application focuses on overdue situations in the past two years and takes measures to deny loans or increase the minimum down payment ratio to control loan risks.

Change 5

The calculation of the loan period has been relaxed

The revised "Details" clarify that the loan period is calculated in a whole year, with the minimum being 1 year and the maximum The term is 30 years, and the loan maturity date shall not exceed 5 years after the borrower’s statutory retirement date.

Before the borrower reaches the statutory retirement age, the loan term is calculated based on the loan maturity date not exceeding 5 years after the statutory retirement age. At the same time, for two or more loan applicants who meet the loan conditions, the loan term can be determined by the party with the longer term. It is helpful for employees to choose a loan term that suits their financial affordability and reasonably arrange monthly payments.

Change 6

The monthly repayment amount

shall not be higher than 50% of the monthly income

In accordance with the relevant policies and regulations of the Ministry of Housing and Urban-Rural Development and the Ministry of Housing and Urban-Rural Development In order to meet the work requirements of the department, the revised "Details" adjust the income-loan-repayment ratio to 50%, that is, the monthly repayment amount of the housing loan of the borrower shall not be higher than 50% of the monthly income. The monthly repayment amount of a housing loan refers to the sum of the monthly repayment amount of the housing loan displayed on the personal credit information system and the monthly repayment amount of the current provident fund loan applied for.

Change 7

The provident fund must continue to be paid before the loan is settled

In order to ensure the consistency of loan rights and deposit obligations, the revised "Details" clarify It stipulates that before the loan is settled, the borrower should continue to pay the housing provident fund in accordance with the loan contract and relevant regulations, and the balance in the housing provident fund account will be used to repay the provident fund loan first, strengthening the borrower's awareness of payment.

Industry Views

Provincial Provident Fund Loans for Second Homes

Limited Impact

What impact will this change in provident fund loan details have on the market? ?

Chengdu Shell Research Institute believes that the most important point is to adjust the Provident Fund loan to purchase a second home to "recognize the house and subscribe for the loan". However, when Chengdu just needs to buy a house and occupies the mainstream of the market, the provident fund for the second home is The impact of the loan is limited.

Data show that at the end of 2018, more than 70% of the Chengdu market had a real need to buy a house, and demand for multiple properties accounted for less than 30%. Therefore, the vast majority of home buyers did not fall within the scope of the impact of this adjustment. The number of customers is small. However, the payment rate of provident fund loans for improved customer groups is less than 30%, and commercial loans are still the main payment method. Therefore, the adjustment of Chengdu's provident fund loan policy is mainly to "stabilize expectations", to a certain extent, to calm the panic buying sentiment of urgent demand, and to be conducive to the orderly release of market demand and the stable development of the market outlook.

West China Metropolis Daily - Cover News Reporter Zhao Yaru

New Policy Questions and Answers

How to prevent overdue credit records?

Article 13 of the "Details": When applying for a provident fund loan, if the borrower has one of the following circumstances, the loan will not be granted: The personal credit information system, provident fund loan information system, etc. have the following bad credit records 1. The current loan is overdue, or the guarantor has paid for it; in the past two years, the loan has been overdue for more than 6 consecutive periods or the cumulative overdue period has exceeded 12 periods; there are bad debts, write-offs, payment stops, compulsory execution, etc.

In addition, those who are included in the list of dishonest persons subject to enforcement; those who provide false information, false promises, etc.; those who are included in the registration of housing provident fund dishonesty; and there are other circumstances that may affect the security of provident fund loans.

Article 20 of the "Details": When applying for a provident fund loan, if the borrower has been overdue in one of the following situations in the past two years, the minimum down payment ratio will be increased by 30%: the loan has been overdue for more than 3 consecutive periods but has not It exceeds 6 periods, or the cumulative overdue period exceeds 6 periods but does not exceed 12 periods; the credit card is continuously overdue for more than 6 periods, or the cumulative overdue period exceeds 12 periods.

Article 21 of the "Details": The credit status of the loan applicant is based on the query results of the personal credit system, provident fund loan information system, etc., and is comprehensively evaluated based on the specific overdue time, overdue amount and other factors , does not rely on the non-malicious overdue certificate issued by a commercial bank, etc.

If there are overdue records due to credit card annual fees, loss reporting fees, etc., instructions or transaction details issued by the commercial bank should be provided. After confirmation, they may not be included in the calculation of overdue periods.

Interpretation: In order to promote the construction of an honest society, enhance the integrity awareness of deposit-paying employees, and prevent potential risks of loans, we draw lessons from the experience of industry centers and commercial banks, focus on overdue situations that have occurred in the past two years, and take measures to deny loans or Measures to increase the down payment ratio to control loan risks.

No loans will be granted for purchased re-traded houses

How to specify?

Article 14 of the "Details": When applying for a provident fund loan, if the purchased re-traded house has one of the following circumstances, the loan will not be granted: there is a spouse, parent, or relationship between the buyer and the seller. The building is related to children; the building is more than 20 years old, has a brick and wood structure, has no independent kitchen and bathroom, has been identified as a dangerous building by the relevant departments, has been determined by the relevant departments to have changed the property use, or has other circumstances that are not suitable for disposal.

Interpretation: In order to prevent the risk of employees obtaining provident fund loans through transactions between immediate family members, based on the practice of the industry center, the buyer and the seller of the purchased re-traded house are immediate relatives. Loans will not be granted under these circumstances.