The provident fund loan policy has been adjusted in many places, and the loan period of Beijing commercial loans has been shortened to within one month

　　Recently, Beihai, Sichuan Zigong and other places issued new policies on provident fund loans, clearly relaxing the provident fund loan requirements.

A reporter from China Securities Journal found that since 2022, the speed of commercial loan issuance for house purchases has increased significantly compared with the second half of 2021.

Adjustment of provident fund loans

　　A few days ago, the Housing Provident Fund Management Center of Zigong City, Sichuan Province issued the "Notice on Adjustment of Housing Provident Fund Policies", which clearly relaxes the policy on the number of housing units and implements the recognition standard of "only subscribed for loans but not housing".

If there is neither a housing provident fund loan record nor an unfinished housing commercial loan, the policy for the first home loan will be implemented; if there is a settled housing provident fund loan record or an uncompleted housing commercial loan, the second home loan policy will apply. Execution, the loan record is subject to the credit report, otherwise the loan will not be granted for the three suites.

Eliminate the restriction that two housing provident fund loans must be separated by 12 months or more; policy support will be given to high-level talents holding Tianfu Yingcai A, B, and C cards, and specific measures will be formulated separately.

The adjustment policy will be implemented from January 17, 2022 and will be valid for three years.

　　Previously, Beihai issued a new policy to adjust provident fund loans, becoming the first city in the country to reduce the down payment ratio since 2022.

　　In this regard, Yan Yuejin, research director of the Think Tank Center of E-House Research Institute, believes that by the end of 2021, Beihai will have a destocking cycle of 23.7 months, and it is generally in a city that is relatively difficult to destock.

After the promulgation of the new policy, the down payment ratio of provident fund loans in Beihai City has been reduced from 60% to 40%, which objectively reduces the down payment pressure of such home buyers and is conducive to stimulating local demand for improved housing.

Commercial loan disbursement speeds up

　　A reporter from China Securities Journal found that since 2022, the rate of commercial loan issuance for house purchases has increased significantly compared with the second half of 2021.

Taking Beijing as an example, the commercial loan lending cycle of most sub-branches in Beijing has been shortened to less than one month.

　　A banker told a reporter from China Securities Journal that there is a common practice in banks that "loans are released at the beginning of the year and deposits are at the end of the year."

　　Following the RRR cut at the end of 2021, the LPR with a maturity of more than five years, which is closely linked to housing loans, has also been lowered.

　　On January 20, the People's Bank of China authorized the National Interbank Funding Center to announce the latest market quoted interest rate for loans. The one-year LPR is 3.7%, down 10bp; the LPR for more than 5 years is 4.6%, down 5bp.

　　Zhang Bo, dean of the 58 Anju Room Real Estate Research Institute, believes that the reduction of LPR will reduce the interest payment of personal mortgages, which will stimulate some buyers who just need to wait and see, and to a certain extent, it can stimulate a slight rebound in the purchase of houses.

In addition, on the basis of the "three red lines", the financing difficulty and financing cost of the real estate development industry are expected to be reduced.

　　(Original title "Adjustment of Provident Fund Loan Policies in Multiple Places")