After the "mortgage can be extended to 80 years old", how much room is there for a breakthrough?

　　Author: Android

　　Recently, the news that "the age limit of housing loans in Nanning can be extended to 80 years old" rushed into the hot search.

In fact, this is not the first time that the banking industry has broken through the previous age limit. In 2019, a bank in Hangzhou extended housing mortgage loans to 80 years old.

　　In order to encourage residents' willingness to buy houses and stimulate housing consumption demand, since last year, housing loan policies have been loosened on a large scale, from lowering mortgage interest rates and down payment ratios to increasing the maximum amount of provident fund loans, piloting second-hand housing "transfer with mortgage", There are frequent benefits such as relaxing the age limit for lenders, issuing housing purchase subsidies, innovating repayment methods, and discussing the extension of loan terms and the reduction of interest rates on existing mortgages.

　　So, after the introduction of this series of policies around housing loans, is there still room for policy in the future?

In this regard, experts suggest that although housing loan policies are frequently introduced, they still need to be refined and promoted.

Not encouraging seniors to take out loans

　　For a long time, the banking industry has imposed strict restrictions on the maximum loanable age for housing mortgage loans. Earlier, the age of the lender plus the loan period could be up to 65 years old. Since then, some banks have relaxed the age limit to 70 years old, and have implemented it for many years. .

　　For example, the reporter learned from the Guangzhou mortgage market that most banks implement the policy that the age of the lender plus the loan period should not exceed 70 years old, and very few banks can reach 75 years old.

　　As early as 2019, there was a "relay loan" product that relaxed the mortgage age to 80 years old, but it was stopped because it caused great controversy.

　　"The age of the lender plus the extension of the loan term to 80 years old also makes sense: on the one hand, since the average life expectancy of people is generally increasing, it is a long-term trend for mortgages to follow the age; on the other hand, it also extends the loan repayment period. Time limit, thereby reducing the monthly payment amount and lowering the threshold for buying a house.” Zheng Dayuan, general manager of Dayuan Mortgage, said in an interview with a reporter from China Business News.

　　However, Zheng Dayuan also said that from the practical point of view, after most people retire, their pension itself is used for life security in their later years, and it is unlikely to be used for housing, so most of the cases are middle-aged or young people People enter the market in the name of the elderly, extend the loan period, and reduce the monthly payment. The real mortgage is actually young people.

　　"When borrowers apply for housing mortgages, although they hope that the term will be as long as possible, in fact, usually 5 to 8 years will be paid off in advance, so the risk is controllable for the bank." Zheng Dayuan said that the policy is fundamental The intention is to stimulate the demand side.

　　Yan Yuejin, research director of Shanghai E-House Real Estate Research Institute, said that the most direct effect of "extending the age of housing loans" means that middle-aged people aged 40 to 59 can obtain loans in full when handling housing loans, especially for 30 years. The length of the loan period.

Because according to the old policy, the duration of loans for such groups cannot exceed 30 years, and if the mortgage age period is extended to 80 years, it is easy to obtain a 30-year loan amount or increase the repayment period by 10 years.

　　"Since 2020, real estate policies across the country have continued to be loose, especially housing loan policies as the main policy tool. The looseness of such policies is essentially in line with the orientation of activating reasonable housing consumption demand in various places. This is also an important starting point for the Nanning policy. "Yan Yuejin said.

Mortgage policy in full swing

　　In fact, since the fourth quarter of 2021, in order to encourage residents' willingness to buy houses and stimulate consumer demand for housing, housing mortgage loan policies have been relaxed in all aspects, with frequent benefits.

　　Among them, the most powerful is the decline in mortgage interest rates. Since the fourth quarter of 2021, the LPR with a term of more than 5 years has been lowered three times, and the national mortgage interest rates have fallen accordingly.

　　At the beginning of this year, the central bank and the China Banking and Insurance Regulatory Commission established the first dynamic adjustment mechanism for housing loan interest rate policies. 3", the 3.8% first-home loan interest rate has become the mainstream.

　　As interest rates fall, down payment ratios also fall.

At the end of last year, a statistical data released by the China Index Research Institute showed that more than 80 countries have adjusted the down payment ratio of the first-home commercial loan to 20%.

　　Increasing the maximum amount of provident fund loans is also a hot spot in various places to relax housing loan policies. For example, in Changsha, the maximum loan amount of the provident fund for non-three-child families is 700,000 yuan, and the maximum loan amount for three-child families is 800,000 yuan.

In addition, Jining, Shandong, Yichang, Hubei and other places have also introduced similar policies.

　　The implementation of preferential policies such as housing subsidies is ongoing. For example, Wenzhou has given a consumption subsidy of 0.6% of the purchase price; Yancheng, Jiangsu has launched a series of measures to promote housing consumption during the peak period of returning home during the Spring Festival; Harbin City, Heilongjiang Province has given one-time housing purchases subsidies, etc.

　　In order to improve the convenience of second-hand housing transactions, since August 2022, more than 20 cities have successively announced the launch of the transaction mode of "transfer with mortgage" for second-hand housing.

Among them are not only popular cities such as Shenzhen, Guangzhou, Dongguan, Xi'an, Ningbo, Suzhou, Wuxi, and Jinan, but also third- and fourth-tier cities such as Zhongshan, Lishui, Weifang, and Huaian.

　　In terms of repayment methods, on the basis of the traditional "equal installment principal and interest" and "equal installment principal", many places have also added flexible repayment methods such as "interest first and principal later" or "a small amount of principal plus interest".

Still need to refine and promote

　　After the introduction of this series of policies around housing loans, is there still room for policy in the future?

　　For example, in August last year, some experts suggested extending the mortgage repayment period to 40 years. At present, the maximum loan period for housing mortgages is 30 years, which is similar to the original intention of "loaning to 80 years old". Reduce the monthly payment pressure of home buyers.

　　In addition, the most popular issue recently is the reduction of interest rates on stock mortgages. Although the mortgage interest rate has entered the "3" era, there are still quite a few people who implement bank high-level plus points. LPR is floating, but the bank plus points are fixed. of.

In desperation, this group of people can only balance the high points by repaying in advance and save part of the interest.

　　Even some loan intermediaries saw the business opportunity and lobbied lenders to replace their original mortgages with business loans and consumer loans.

　　In this regard, the Liaoning Banking and Insurance Regulatory Bureau also issued a special article to remind that operating loans must not be used in violation of regulations to purchase houses, settle house payments, or repay house payments advanced through other channels, and illegal use will result in early recovery of loans.

Obtaining loans by falsifying business information will be suspected of defrauding loans, and if the circumstances are serious, they will be investigated for criminal responsibility according to law.

　　Han Xiao, an analyst at Tianfeng Securities, believes that commercial banks may not rule out conditional discounts on existing credit in the future.

However, the current scale of existing housing loans is relatively large. Considering the impact on commercial banks, even if relevant policies are introduced, the implementation conditions may be more stringent.

　　In fact, as early as the beginning of 2009, several commercial banks lowered the interest rate on existing mortgages to as low as 70% of the benchmark interest rate.

　　Yan Yuejin told China Business News that although many housing loan policies have been issued, they still need to be refined and promoted. "For example, whether there are more differentiated housing loan preferential policies for new citizens." He said.

　　Zheng Dayuan said that currently more housing loan policies are mostly implemented in small cities. In the future, it is worth exploring whether large cities also need to liberalize. "In the past, housing loan interest rates were low in first-tier cities and high in small cities. Now it is the opposite." He said.

　　Li Yujia, chief researcher of the Guangdong Provincial Housing Policy Research Center, also told China Business News that for those hot cities that still recognize houses and subscribe for loans, the threshold for purchasing houses is expected to be further lowered, especially for improved house purchases.

"At the same time, there is still room for further reduction in mortgage interest rates." He said.

　　In addition, Li Yujia said that at present, although all regions are actively supporting the property market, it is difficult for any single mortgage policy to make the property market heat up quickly. Only the superposition of multiple policies can relieve the demand side for a long time.