Banks are actively implementing the “two red lines” policy of supervision.
Many banks in Beijing have tightened their second-hand mortgage lines
"Now the time for loan approval is normal, but the loan is really slow, and our cooperative bank's quota is basically gone." On the afternoon of August 19, Mr. Zhao, a real estate agent who has worked in Chaoyang District for many years, told a reporter from Beijing Youth Daily.
According to what he knows, it will take two months at the earliest for a pure commercial second-hand housing loan to be released, which is at least twice as long as before.
A reporter from the Beijing Youth Daily learned about the same situation from a number of home buyers and bankers. The personal mortgage quotas of various banks in Beijing are generally tight. Some outlets have suspended second-hand mortgage orders because they do not have quotas.
Bank quotas are obviously tighter than two months ago
Mortgage interest rates continue to stabilize
Mr. Zhang, who wanted to improve his family's living conditions, began to look for a house he liked after May 1st, and he finally chose a target recently.
According to Mr. Zhang's plan, the house swap can be done before the end of the year.
Unexpectedly, the intermediary told him that the banks are very tight now, and it is difficult to say when the funds will be released. We must discuss with the seller to allow enough time.
Mr. Zhang wondered if it would be easier for small banks to apply, but the intermediary told him that "small banks are even more uncertain about whether they have a quota."
Mr. Zhang told the Beijing Youth Daily reporter that he clearly remembered that he consulted the same intermediary on loan issues at the end of June. The other party replied that "the bank quota is relatively sufficient, and the loan approval speed is normal." He did not expect less than two. In September, the situation changed so much.
What comforted Mr. Zhang is that the bank loan interest rate has not risen, and the second home loan interest rate is still 5.7%, which is relatively stable.
Loan time is too long
Sellers welcome full buyers
Many real estate agents and bank staff also said that the bank mortgage line is generally in urgent need. Customers who have recently switched houses must be psychologically prepared when applying for second-hand housing loans, and they will wait for a while.
A staff member responsible for personal loans at a branch of a large state-owned bank said that recently the branch no longer accepts orders for pure commercial loans, and there is really no quota.
According to him, according to the notice issued by the Beijing branch, not only their branch, but also other branches of the bank that can handle personal mortgages in Beijing should also have no quota.
He suggested that customers try other banks.
In addition to large state-owned banks, joint-stock banks with smaller mortgage businesses also have problems with insufficient quotas.
A personal loan manager at a branch of a joint-stock bank said that at present, the second-hand housing business can only do pure commercial loans, but it takes a long time for the loan to be issued. It is hard to say how long it will take to wait.
Because the branch does not have a new quota, it mainly depends on the repayment of old customers, and the quota can only be released if the loan is repaid.
The personal loan manager of another joint-stock bank also stated that the entire Beijing branch currently does not have a mortgage loan quota, and it has not accepted mortgage loan applications recently. It is not certain when the loan quota will be available.
Intermediary Mr. Zhao told reporters from Beijing Youth Daily that because the loan time is generally longer, buyers who can buy a house in full without a loan are naturally more popular with sellers and have a lot more room for bargaining than loan customers. Decrease 100,000 or 150,000; the full amount of customers can negotiate at least 200,000, and the higher the total price, the more obvious the performance of the house."
Supervision "Two Red Lines"
Putting a "tight spell" on bank real estate loans
It is understood that the mortgage quotas of many banks across the country have been in urgent need, especially those in cities where the property market is booming, and the supply of loans is severely in short supply, and even the mortgage interest rate has been soaring.
In contrast, the property market in Beijing this year performed peacefully, and the housing loan market was relatively stable.
Many banking industry insiders pointed out that based on past experience, banks’ mortgage lines in the second half of the year are generally tighter than those in the first half of the year, and lending will be slower than in the first half of the year. By January of the following year, when the new line is released throughout the year, the lending speed will increase. .
But this year’s situation feels a bit more serious than in previous years, mainly due to the tightening of real estate financial supervision by the regulatory authorities.
On December 31, 2020, the Central Bank and the China Banking and Insurance Regulatory Commission jointly issued the “Notice on Establishing a Centralization Management System for Banking Financial Institutions’ Real Estate Loans”, setting up two separate measures for different types of commercial banks’ real estate loans and personal housing loans. Red line" indicator.
The upper limit of the proportion of real estate loans of the five banks of large Chinese banks, medium-sized Chinese banks, small Chinese banks and non-county rural cooperative institutions, county rural cooperative institutions, and village banks are 40%, 27.5%, 22.5%, and 17.5, respectively. % And 12.5%, and the upper limit of the proportion of personal housing loans is 32.5%, 20%, 17.5%, 12.5% and 7.5%.
This system is not only an important part of the long-term real estate mechanism, but also an important part of the financial macro-prudential policy framework.
On July 23, Zou Lan, Director of the Financial Market Department of the Central Bank, said in an interview with CCTV that since the implementation of the policy, the concentration of real estate loans and personal housing loans by banking financial institutions has steadily decreased.
The proportion of real estate loans fell by 0.6%, of which the proportion of personal housing loans fell by 0.2%; while the real estate loan business was subject to certain restrictions, commercial banks put more energy on supporting small and micro businesses, agriculture, rural areas and farmers. In areas where the economy is weak, the proportion of loans in key areas such as manufacturing and technological innovation has also increased significantly.
China Everbright Bank analyst Zhou Maohua pointed out that banks' active implementation of the "two red lines" will inevitably lead to banks in some regions because of the rapid expansion of housing loans before, and their quotas are tight.
The deeper reason behind this phenomenon is that supervision promotes the further optimization of bank asset-liability structure and avoids excessive concentration of bank credit resources in the real estate sector.
The excessive development of real estate will undoubtedly overdraw the medium and long-term development potential of some regional economies.
Zhou Maohua believes that the shortage of bank quotas will not be significantly eased in the short to medium term. After all, the transformation and development of the real estate industry and the optimization of the bank's asset-liability structure will take a long time.
Text/Reporter Cheng Jie
Supervision "Two Red Lines"
The first red line is the "proportion of real estate loans." Large banks must not exceed 40%, medium banks must not exceed 27.5%, small banks must not exceed 22.5%, county rural cooperative institutions must not exceed 17.2%, and village banks must not exceed 12.5%.
The second red line is the "proportion of personal housing loans." Large banks must not exceed 32.5%, medium banks must not exceed 20%, small banks must not exceed 17.5%, county rural cooperative institutions must not exceed 12.5%, and village banks must not exceed 7.5%.