, December 7th (Chinanews Finance and Economics reporter Zuo Yukun) Recently, there have been some new changes in mortgage repayment matters that are closely related to the lives of house buyers.

A number of banks in Guangzhou have launched deferred repayment services for personal housing loans, that is, within the corresponding period, they will not report overdue credit information.

  What are the pros and cons of deferring mortgage repayments?

Is it for everyone?

Data map: real estate.

Photo by Li Xinsuo

Deferment of mortgage repayment policy upgrade

  Guangzhou, a first-tier city, has recently paid attention to the repayment ability of residents.

  According to media reports such as Guangzhou Daily, Agricultural Bank of China, China Construction Bank, Bank of China, Minsheng Bank, China Everbright Bank, Guangzhou Rural Commercial Bank and many other mainstream banks in Guangzhou have launched a deferred mortgage repayment service for personal mortgages, and the extension period can reach up to 12 months.

  The biggest highlight of Guangzhou’s policy is that it pays attention to the credit investigation problems caused by the postponement of loan repayment. It stipulates that if the application for postponement of repayment is successfully applied, no penalty interest and compound interest will be calculated within the corresponding period, and the overdue record of credit investigation will not be reported.

However, the applicant must be a group with special difficulties who cannot repay the loan in time due to the epidemic.

  Such groups mainly include: staff participating in the prevention and control of the epidemic; people hospitalized or quarantined due to infection with the new type of pneumonia, and people who need to be quarantined and observed for epidemic prevention and control; customers who have temporary difficulties in repayment due to objective reasons such as management and control; industries that are greatly affected by the epidemic Practitioners, small and micro business owners, individual industrial and commercial households, farmers, etc., such as transportation, catering and entertainment, tourism, offline retail, professional markets and other relevant practitioners who are greatly affected by the epidemic; The "five categories" of people, such as groups with special difficulties in repaying loans, etc.

  A reporter from Zhongxin Finance and Economics consulted the staff of many banks in the Guangzhou area, and they all said that there is indeed such a policy, and the postponement of repayment will not affect credit investigation.

However, the specific implementation methods and the deferred repayment period that can be applied for are different, and residents need to consult with the personal loan department according to their actual situation.

  For example, Guangzhou Branch of Industrial and Commercial Bank of China stated that during the extension period, the loan interest will be calculated according to the actual principal occupancy, and can be repaid in one lump sum or apportioned to subsequent installments after the extension period; Guangzhou Branch of Agricultural Bank of China stated that within the grace period and During the bill plan adjustment period, compound interest will not be calculated; Minsheng Bank Guangzhou Branch allows customers to apply for or adjust the deferred repayment service multiple times, and the extension period shall not exceed 12 months. There are two loan terms.

Data map: The scenery on both sides of the Pearl River in Guangzhou.

Photo by Cheng Jingwei

Still need to be cautious when applying for extension

  In fact, deferment of mortgage repayment is not a new policy. In April this year, it was also on the hot search because of its wide attention.

As early as February 2020, the "Notice on Further Strengthening Financial Support to Prevent and Control the Novel Coronavirus Infected Pneumonia Epidemic" jointly issued by the central bank and other five departments made it clear that financial institutions should provide appropriate credit policies to users seriously affected by the epidemic. Inclination, flexible adjustment of personal loan repayment arrangements such as housing mortgages and credit cards, and reasonable extension of repayment deadlines.

  In November this year, the central bank also released the "Financial 16 Measures" to support the development of the real estate industry through financial policies, and also explicitly encouraged independent negotiations to delay repayment of principal and interest in accordance with the law.

Up to now, Beijing, Shanghai, Zhengzhou, Chongqing and other places have also issued related policies on deferred repayment of mortgages.

  Ms. He, a citizen, went to the bank to inquire about the postponement of loan repayment not long ago. She told the reporter of Zhongxin Finance that things were a little different from what she thought.

  "I went to the sub-branch where I applied for the loan when I bought a house, and I consulted the corresponding account manager. I thought that the extension would extend the entire loan period, or spread it to each month in the future. But the

bank's answer was, for example, to apply for an extension of 12 months , then in the 13th month, I need to repay the total amount of the previous year in one lump sum

, which is also stressful for our monthly salary workers." Ms. He said, the personal loan manager also told her that this This kind of postponement is indeed more suitable for groups that have temporary difficulties in capital turnover such as doing business.

  As for the required procedures, the personal loan manager said that it is not complicated. It mainly needs identification materials such as ID card, household registration book, real estate certificate, etc., as well as

the company's proof of reduced income due to the epidemic, and a personal credit report


But you must apply in advance and reserve a certain amount of time for the bank to approve it, otherwise it may also be judged as overdue.

  Another netizen mentioned that the grace repayment page of some banks will display: "The grace period service allows the borrower to agree on a period of time during the loan period not to repay the loan principal temporarily.

The grace period will increase interest expenses and will affect subsequent repayments .

The specific repayment method can contact your loan handling bank

.” This may bring the risk of increased interest, and residents also need to communicate with the bank in advance.

Data map: Night view of Zhujiang New Town in Guangzhou.

Photo by Tang Guijiang

Experts: Further consideration should be given to reducing interest rates on stock mortgages

  In the view of Yan Yuejin, Research Director of the Think Tank Center of E-House Research Institute, the Guangzhou Mortgage Deferred Repayment Policy has many new features.

Especially at the end of the year, pressures on income levels and expenditures require all localities to proceed from the actual situation and continue to introduce such preferential policies.

  In April this year, the Guangdong Banking and Insurance Regulatory Bureau mentioned at the Guangdong Banking Industry News Briefing in the first quarter of 2022 that since the outbreak of the epidemic in 2020, banking institutions in the jurisdiction have implemented deferred repayments on 46,000 housing loans affected by the epidemic. Loans exceeded 30 billion yuan.

Among them, nearly 800 households have applied for deferred repayment of mortgages since 2022.

  "Follow-up suggestions pay more attention to the income status and loan repayment ability of households, so that home buyers can dispel their worries, and really let the policy help households tide over difficulties, and at the same time reduce the increase in the non-performing rate of commercial bank mortgages." Yan Yuejin Say.

  "Such a policy not only embodies the financial rescue of the real economy, but also demonstrates the significance of inclusive people's livelihood." Li Yujia, chief researcher of the Housing Policy Research Center of Guangdong Urban Planning Institute, also believes that when encountering general people's livelihood difficulties, for It is very unfavorable for the long-term stability of financial profits and the reduction of risks.

There is an urgent need for timely rescue and repair and the maintenance of the foundation of people's livelihood, production and life, in order to ensure that financial investment can maintain sustainable profitability in the future.

  At the same time, Li Yujia further proposed that in addition to deferring loan repayments, he also suggested targeted interest rate cuts for stock mortgages.

Currently, the interest rates of existing housing loans are generally relatively high, but residents’ income levels, difficulties faced, and future expectations have all undergone tremendous changes. There is an urgent need to lower the interest rates of existing housing loans, so as to fundamentally alleviate the actual difficulties of households with loans.