China-Singapore Jingwei, August 17 (Wei Wei intern Guo Xizi) Not long ago, the Beijing Housing and Urban-rural Development Commission announced that it purchased three pilot projects for elderly families (60 years old and above) in the central urban area, and moved their household registration to the location of the pilot project. Yes, give policy support, which mentions that "children can apply for loans as co-borrowers".

  Recently, a Sino-Singapore Jingwei survey found that some banks in Beijing can also do "relay loan" business in other non-pilot projects, that is, parents can be the main borrowers and children can be co-borrowers. The total income is not less than 2 times the monthly payment.

  A banker revealed to Sino-Singapore Jingwei that relay loans have always existed in the Beijing market, not recently.

Industry insiders believe that relay loan products, for the current property market, are intended to lower the threshold for purchasing a house and moderately loosen the restrictions.

At the same time, it is also necessary to regulate and be vigilant that it becomes a means of speculating in real estate.

"Relay Loan": the parent borrows the main loan, and the children borrow together

  Ms. Wang, who lives in Daxing District, Beijing, recently learned by accident while chatting with an intermediary that there are banks that can provide relay loans.

"My husband and I are buying a second house now. The down payment is too high, but the intermediary said that we can buy it in the name of the elderly and use a relay loan. My parents-in-law and my mother-in-law have no real estate, so the first house only needs 3.5% of the down payment, and the pressure is small. A lot," Ms Wang said.

  However, the intermediary told Ms. Wang that the age of her parents should not exceed 70 years old, and Ms. Wang's parents-in-law were already older, so she could only give up the idea of ​​using relay loans to buy a house.

  The so-called "relay loan" refers to the purchase of a house with the qualifications of the parents, the parents as the main borrower and the children as co-borrowers, and bear the responsibility of repaying the loan together.

  Recently, Sino-Singapore Jingwei consulted a real estate agency in Beijing as a client. The other party said that they can do relay loans, provided that their parents have the qualifications to buy houses in Beijing.

If the parents have a house in the name of the second house, if there is no house, the first house will be regarded as the first house loan. If you retire, you need to provide a pension certificate, and the child can provide an income certificate to cover 2 times of the monthly payment.

  "As long as you meet the qualifications of the bank and have nothing to do with the project, you can do it. We have cooperation with the four major banks." Another Beijing real estate agent said.

  Sino-Singapore Jingwei also consulted with the account managers of China Construction Bank, Agricultural Bank of China, Bank of Communications, Hua Xia Bank, China Everbright Bank and other banks as customers, and they all said that they could do "relay loans".

At present, the maximum age of mainstream borrowers is 70 years old.

  An account manager of the Agricultural Bank of China introduced that for its cooperative real estate, if one of the parents is the main borrower, the maximum age must not exceed 69 years old, and must have income.

If the parents are retired, a photocopy of the retirement certificate and the past one year's pension flow should be provided when applying for the loan.

In terms of income proof, the total income of parents and children is required to be no less than 2.1 times the monthly payment.

  The account manager said that the current interest rate for the first home in Beijing is 5%.

Taking the loan of 1.5 million as an example, the repayment period is 25 years, and the monthly repayment is 8,768.85 yuan. The income proof of parents and children must reach nearly 18,500 yuan per month.

  The account manager of a branch of CCB in Beijing said that this is equivalent to buying a house for the elderly and sharing the loan with their children.

It depends on the qualifications of the main borrower's family. If there is no house or loan in the name, it can be regarded as the first home loan.

In addition, the co-borrower cannot have more than two housing loan records in transit.

Regarding the loan period, the above-mentioned customer manager said that 90 minus the age of the older parent is the loan period. For example, if the parent is 65 years old this year, the loan period is 25 years.

To apply for a loan, parents need to provide the retirement bank salary flow.

The mortgage loan in the name of the children is included in the family debt, and the income certificate also needs to cover the family debt.

  A customer manager of Hua Xia Bank also said that the bank can handle relay loans.

When asked if parents who are over 70 years old can apply, the account manager said: "Yes, the maximum loan period is 84 minus the age." For example, if the parents are 72 years old, they can only borrow for 12 years.

  "Relay loans must be guaranteed by children, that is, immediate family members." The above-mentioned customer manager said that the

existing mortgage loan under the child's name is counted as a family debt, and the income proof needs to cover 2 times the family debt.

For example, if the child now has a monthly mortgage of 10,000 yuan, and the monthly payment for this purchase is 8,000 yuan, then the combined income certificates of the elderly and their children need to reach more than 36,000 yuan.

  Another account manager of the Bank of Communications also said, "If you have a normal income after retirement, it should be possible, but it also depends on the specific loan amount. There is definitely no problem with parents before the age of 65, and it may depend on the specific situation."

  "There has always been a relay loan in the Beijing market, but some banks can't do it." A person from a branch of a joint-stock bank in Beijing revealed to Sino-Singapore Jingwei.

A personal loan person from a branch in Beijing of another city commercial bank said that considering the risk control, the bank does not make relay loans.

Sino-Singapore Jingwei also called some branches of Industrial and Commercial Bank of China and China Merchants Bank in Beijing, saying that they did not have relay loan products.

Three pilot projects in Beijing support elderly families to buy houses

  On August 4, the Beijing Housing and Urban-rural Development Commission announced that elderly families (aged 60 and above) in the central city purchased three pilot projects in Pingxifu in Changping District, Fuhuan in Shunyi District, and Xuedarenzhuang in Shunyi District, and moved their household registration to the pilot project. Where the location is, give certain support policies.

  The Beijing Housing and Urban-rural Development Commission has proposed three measures: if the elderly family has no housing under the name and no loan in transit, the down payment ratio for ordinary housing in the pilot project is 35%, the down payment ratio for non-ordinary housing is 40%, and the corresponding loan preferential interest rate; purchase pilot projects For houses with a size of less than 140 square meters, the down payment ratio for the first house is 35% and the down payment ratio for the second house is 60%;

their children can apply for loans as co-borrowers.

  In this regard, Dong Ximiao, chief researcher of China Merchants Union Finance, said that the pilot program in Beijing is not a "relay loan" in the strict sense. , the children can make joint repayments.

This is different from relay loan products in the general sense, and the scope is relatively small.

  Yan Yuejin, research director of the Think Tank Center of the E-House Research Institute, believes that Beijing's policy has adopted a targeted relaxation of the purchase of houses for the elderly and pilot projects for specific projects.

  "In response to the pain points of the elderly in purchasing houses, including the weak down payment ability, especially the difficulty of obtaining loans, etc., we have implemented loose policies in terms of reducing the down payment ratio and lowering the threshold for loan qualification examination. In particular, the practice of allowing children to help with loans , so that the pressure on the elderly to buy a house will be less." Yan Yuejin said.

Industry: relay loans to be standardized

  According to the latest "Financial Statistics Report for July 2022" released by the People's Bank of China, RMB loans increased by 679 billion yuan in July, a decrease of 404.2 billion yuan year-on-year.

By sector, household loans increased by 121.7 billion yuan, a decrease of 284.2 billion yuan year-on-year.

Among them, medium and long-term loans increased by 148.6 billion yuan, a decrease of 248.8 billion yuan year-on-year.

  In addition, the house price data of 70 large and medium-sized cities released by the National Bureau of Statistics in July showed that the prices of new houses in 40 cities fell month-on-month, and the prices of second-hand houses in 51 cities fell month-on-month, an increase of 2 and 3 respectively compared with the previous month.

  Xu Xiaole, chief market analyst at Shell Research Institute, believes that the weakening of market expectations is the reason for the lack of motivation for housing price repair.

He pointed out that under the background of repeated epidemics in some areas and increasing downward pressure on the economy, residents' willingness to consume is insufficient.

Under the combined influence of multiple factors, the real estate market has declined, and the momentum of housing price repair has weakened.

  At present, many places across the country are adjusting their property market policies depending on the city.

In April of this year, there was news that a bank in Guangzhou had launched a "relay loan", but the bank urgently stopped the project.

After a lapse of four months, another media report said that the Guangzhou property market restarted "relay loans".

However, according to a report by China Business News on the 17th, many joint-stock banks and state-owned banks said that they did not have the product.

  In June, the provident fund "relay loan" implemented in Zhuhai, Guangdong also attracted market attention, which mentioned the implementation of "one-person house-buying and whole-family help".

That is to say, employees who have deposited in Zhuhai can use provident funds to help their immediate family members make down payments and repay loans.

In fact, Shaoyang in Hunan, Chaozhou in Guangdong, Ziyang in Sichuan, Ganzhou in Jiangxi, Chizhou in Anhui, Chuxiong in Yunnan, Cangzhou in Hebei, Qinhuangdao and other places have introduced new provident fund policies, and it is also clear that immediate family members can withdraw housing provident funds to pay for house purchases and repay mortgages.

  Dong Ximiao pointed out in an interview with Sino-Singapore Jingwei that "relay loan" products can be appropriately explored. On the one hand, it can solve the problem of buying a house for the elderly, and the elderly also need to improve their living conditions. However, the bank's regulations on the age of loans for the elderly are different. It is more difficult. Relay loan products can help the elderly improve their living conditions and quality of life. Second, for banks, since children also bear corresponding responsibilities as co-borrowers, the risks are basically controllable.

  However, Dong Ximiao also mentioned that relay loans need to be regulated, and it may become a means of speculating in real estate.

For example, children already have two homes, and they can no longer buy them in the name of the children. If they buy in the name of their parents, there will be the risk of real estate flipping. Therefore, it is necessary to further regulate the circumstances under which relay loans can be made.

  According to Yan Yuejin's analysis, in practice, relay loan is also a relatively innovative loan tool, which enables home buyers to borrow more amount.

At present, the pressure of credit issuance in various places is relatively high, and relay loans are generally tested on the edge of supervision, which is related to the bank's mentality of wanting to lend more to customers.

  He believes that the reason why such lending practices are criticized is that there may be unfairness in lending, that is, some people can borrow more.

Second, some people may use this method to evade the purchase restriction in disguise, that is, the children help their parents with relay loans, but in fact the children are buying the house themselves, just borrowing the name of the parents to buy the house.

  "What we should pay attention to in the follow-up is that the content of these disputes must have a plan, and there must be measures to control and prevent risks. If there are measures, then appropriately promote such businesses." Yan Yuejin said.

  Wang Yuchen, director of the Beijing Golden Law Firm, told Sino-Singapore Jingwei that the relay loan product is lowering the threshold for buying a house and moderately loosening it for the current property market.

However, this product itself is controversial and risky, so it was once banned in individual cities.

  Wang Yuchen further pointed out that for banks, the risk is relatively small, because the risk is reduced by increasing the number of borrowers, and the risk is shared.

For lenders, the reason for adopting this method often means that their financial ability is in question. If there is no problem, I am afraid they will not choose this method.

When you take out a loan to buy a house beyond what you can afford, it will undoubtedly increase the financial pressure on yourself and your children or parents.

Moreover, there is no turning back when opening the bow. Once a relay loan is adopted, parents and children may have to repay the loan jointly and severally for many years for a house.

  Wang Yuchen suggested that buyers should fully evaluate their financial ability when buying a house.

Especially during the epidemic, you should make a relatively conservative estimate of your financial capacity to avoid problems in the future.

(For more reporting clues, please contact Wei Wei, the author of this article: (Sino-Singapore Jingwei APP)

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