Chinanews client, Beijing, December 8th (Zuo Yukun) As a "pocket" of property market regulation, every change in bank housing loans has attracted special attention.
After the days of "tightening your belt" in the first half of the year, since the second half of the year, the central bank, the China Banking and Insurance Regulatory Commission and other departments have frequently issued positive signals to guide financial institutions to meet the reasonable credit needs of real estate enterprises and individual home buyers.
On the 6th, the central bank announced a RRR cut and decided to lower the deposit reserve ratio of financial institutions by 0.5 percentage points on December 15 (excluding financial institutions that have implemented a 5% deposit reserve ratio), releasing a total of about 1.2 trillion long-term funds. Yuan.
Will the real estate industry bid farewell to the "tight days"?
Data map: Aerial photography of a newly built residence.
Photo by China News Agency reporter Lu Ming
Residents' mortgage loans are picking up, focusing on supporting first homes
“I’m working in Beijing and buying a house in Tianjin. I interviewed last Friday and approved the approval at noon this Monday. The loan was released in the afternoon. Was it relaxed at the end of the year?”
"I bought a house in Hangzhou. Why did I lend so quickly recently? When I signed the online contract, the manager said that at least next year, I would be proud to make a move. I didn't expect to start eating soil so soon."
"When I bought a house in Chengdu, I interviewed it on November 24, and the loan was successfully released on December 5. Friends and colleagues said that I was lending money too quickly."
Chinanews.com learned from a number of mortgage buyers that recently banks have significantly accelerated their mortgage lending.
A business person at the Beijing branch of a state-owned bank also told Chinanews.com: “At present, the bank is working hard to digest the applications in the early stage, but the overall approval speed has indeed accelerated. In September, we expect the approval time to be around 3-6 months. If everything goes well, the time can probably be shortened to one month."
This is also reflected in the data.
The latest data released by the Central Bank on November 10 shows that at the end of October 2021, the balance of personal housing loans was 37.7 trillion yuan, an increase of 348.1 billion yuan that month, an increase of 101.3 billion yuan over September, and real estate investment by financial institutions has accelerated significantly.
However, the above-mentioned bank staff emphasized to Chinanews that although the quota is loose, the approval process is still strict. The approval of bank flow, down payment source channels, reasonable income certification, etc. is only strict and not lax; currently the bank personal mortgage housing loans mainly support It is the rigid demand for the first home, and the support for incremental funds in the second-hand housing market is still very limited.
Some buyers who bought second-hand houses in Chengdu said: "The second-hand mortgage has not been released for three months, and the intermediary keeps saying that the bank has no quota."
"The bank will sign on October 13 and approve the loan on November 10. The bank said it would be slow before the end of the year, but it seems that the notice was issued last month and the end of the year lending will not be affected." A second-hand house in Qingdao Buyers told Chinanews.com, “However, second-hand houses are still much slower than new houses. Intermediaries say that the loan approval cycle for new houses is basically less than one week.”
The data released by the China Banking and Insurance Regulatory Commission on November 19 also confirmed this phenomenon: at the end of October, real estate loans by banking financial institutions increased by 8.2% year-on-year, and the overall stability remained stable. More than 90% of personal housing loans were used to support the first home.
On December 3, a spokesperson for the China Banking and Insurance Regulatory Commission also stated: At this stage, according to different local conditions, we must focus on meeting the mortgage needs of first homes and improved housing, reasonably issuing real estate development loans, M&A loans, and increasing support for affordable rental housing. , To promote the steady and healthy development of the real estate industry and the market.
"This is the first time the financial system mentioned credit support for improved housing this year, and it has a very strong signal significance." Yan Yuejin, research director of the Think Tank Center of E-House Research Institute, believes that the demand for improved housing will face a better market next. Chance.
"It is not ruled out that the down payment ratio for second set purchases and large-scale purchases will be lowered, including some cities will fine-tune the housing subscription and loan subscription policies, such as adjustments to "subscribe homes without subscribing loans", etc., so that home buyers will have credit for buying houses. Less constraints."
Data map: real estate under construction.
Photo by China News Agency reporter Zhang Bin
Real estate financing unfreezes, release stable expectations
Recently, the trend of continued tightening of loans for real estate companies has also ushered in changes.
Prior to this, under the pressure of the "third-line and four-tier" regulation and control indicators and the pressure of individual real estate companies' risk exposure, large state-owned banks, joint-stock banks, and small and medium-sized banks have greatly increased their provision coverage.
However, with the frequent implementation of the "stabilizing the property market" policy, the financing of real estate companies has accelerated to pick up. The recent debt issuance by real estate companies dominated by private housing companies has clearly shown signs of "opening the gate".
On December 5, Country Garden Group announced that it plans to apply to the exchange for the issuance of supply chain ABS products in the near future; on the same day, Gemdale Group announced that an ABS is approved for issuance, which will be issued in early 2022.
On the 3rd earlier, the application of a subsidiary of Logan Group for the public issuance of 4-year corporate bonds to professional investors in 2021 was reviewed and approved by the China Securities Regulatory Commission and the Shanghai Stock Exchange.
According to media reports, on the basis of the sharp rebound in October, real estate loans in November continued to maintain a chain-on-month and year-on-year double-up trend. It is initially expected to increase by about 200 billion yuan year-on-year.
"Combined with the data in October and November, real estate loans have gradually rebounded, which can better meet reasonable needs such as rigid needs." Wen Bin, chief researcher of Minsheng Bank, said that this will not only help the real estate market to develop steadily and healthily, but also prevent banks Own credit risk is also very necessary.
However, it is important to note that the warming of the repair margin of credit policy does not mean a fundamental change in the policy.
"The changes in credit policies are to maintain stability in the real estate market, not to encourage real estate speculation." Yan Yuejin emphasized that the relaxation of policies in various places is mainly for the stable development of the real estate market, especially to prevent financial supporting policies. Failure to follow up has led to a deserted property market.
He said that on the whole, the current policy easing of credit policy is expected to continue into the first half of next year.
As for local governments, with the relaxation of credit policies, they must be vigilant against possible real estate speculation.
“From the perspective of subsequent adjustments to the credit policies of various cities, it is expected that there will be no overall relaxation. It is more likely to be a phased, regional, and targeted adjustment.” Zhang Bo, Dean of 58 Anju Guest House Industry Research Institute also believes that the combination Looking at the current real estate market environment, there is still room for fine-tuning the level of mortgages in various regions.
As for cities, the trend of differentiation in the property market will continue.
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