Second house down payment suddenly increased by 10% How to do if the purchase of a house down payment is not enough?

Recently, Shenzhen and Shanghai have successively issued new mortgage policies, that is, it is required that 70% of the down payment should be paid for the purchase of the second suite. This can be difficult at once. The homeowners who are preparing to buy a house in the near future have suddenly increased the down payment for the second suite by 10%. What are the hundreds of thousands of gaps that should be made up?

Shenzhen's Mr. Li is also annoyed by this matter. He and his wife have been optimistic about a set of 3 million houses, and finally they have enough money to pay 60% of the down payment. Now they have to spend more than 300,000 down payment. They are really powerless.

Mr. Li said that he belongs to “Specialty Needs.” The first house was purchased in 2007. It is a set of five or ten square meters of a bedroom. Now that the child has grown up, it has reached the age of school, and now the house is not enough to live. . Mr. Li said that he and his wife intend to do a "fake divorce," so that the down payment can be changed by 30%.

When the New Deal came out, there were a lot of people who encountered Mr. Li. Many people also thought of using false divorce to tide over difficulties. However, the risk of false divorce is very high. It is not uncommon for one to accidentally make a mistake. Therefore, it is recommended that if you are unwilling to go to the “false divorce” step, you must also agree on issues such as property and child support before signing a divorce agreement so as to avoid accidents and lose your wife and soldiers.

　If the road to "false divorce" doesn't work, is there any other way to make a down payment?

Fusion 360 recommends homebuyers. If the down payment is not enough, try the following methods:
  
If individuals have funds, bonds, or stocks, they can choose to cash out to meet their urgent needs. If they can borrow money from relatives and friends to make an emergency, this is the most cost-effective solution; the above methods will not work, and buyers can choose the following loan methods:

1. If you have a formal work unit, you can applyCredit Loans. The bank will approve the loan quota based on the borrower’s personal qualifications, such as the nature of the work unit and the position. In general, the time limit for credit loans is within 5 years, and the interest rate is about 20%.

2. Can apply for real estateMortgage. Mortgage loans are generally subject to an increase of around 30% in interest rates and the loan period is within 10 years.

3. If you have a company under the name of the home buyer, you can apply for a business loan. BusinessLending ratesUsually go up 30%, the loan life is usually 3-5 years.

It should be noted that, before the New Deal was formally implemented, buyers who had completed online signing were not affected by the New Deal and were still handling 60% of the down payment for the second suite. If the purchaser does not have the power to pay the increased 10% down payment, he can negotiate with the seller to cancel the purchase contract. However, because the policy adjustment is not force majeure, the party that has breached the contract must pay a certain amount of liquidated damages.

Fusion 360 Tips: In order to prevent the policy change from leading to the inability of the contract to be fulfilled, it is best for the buyer and the seller to agree on a similar situation when signing the purchase contract to fully protect their rights and interests.