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Reasons for developers refused to provident fund loans revealed: government lending too slow

Time: 2018-01-09         Source: Securities Daily - Capital Securities Network         Author: Securities Daily - Capital Securities

In the high price today, the use of housing provident fund loans to buy a house to become the first choice for many home buyers cost savings, but this has repeatedly been real estate developers refuse and make things difficult. In response, the Ministry of Housing and Urban-Rural Development, the Ministry of Finance, the People's Bank of China, Ministry of Land and Resources on December 26, 2017 issued "on the maintenance of housing provident fund employees purchase loans rights," requiring real estate developers may not limit , Obstruct, refuse to buy a home to use the housing provident fund loans.

"By the end of 2017, the National Development and Reform Commission of the Ministry of Housing and Urban-Rural Development conducted a comprehensive inspection on the sales of commercial houses in some major cities. During the inspection, it was found that the phenomenon of open refusal of provident fund loans was more serious." Director of Shanghai E-Habitat Research Center Think Tank In an interview with Securities Daily recently, Yuejin said in an interview with the reporter that the four departments jointly issued a document to protect the provident fund loan policy. This policy can be said to be timely and necessary to safeguard the legitimate rights and interests of the employees who have deposited their CPF funds.

It is understood that housing provident fund as a special fund to solve the housing problems of workers, in accordance with the relevant provisions of the current, workers in full, in full payment of housing provident fund more than 6 months (inclusive), you can apply for housing provident fund management center for personal housing loans. At present, the housing provident fund personal housing loan interest rate of 3.25%, much lower than the commercial bank personal housing loan interest rates. It is estimated that an amount of 1000000 yuan, a period of 20 years of housing provident fund individual housing loans, commercial banks than individual housing loans interest savings of 200000 yuan or more, can effectively reduce the burden on staff purchase.

However, for real estate developers, homebuyers use Provident Fund loans is not a "good news." Home Real Estate Research Institute, said Zhang Bo, chief analyst in an interview with the Securities Daily recently explained that the reason why developers exclude the use of provident fund loans, the main reason is the slow withdrawal. Fund loan process is complex, long loan period, housing loans directly lengthen the cycle, leading to decline in capital turnover. Therefore, the pursuit of high turnover, the rapid expansion of the size of the housing provident fund loans will have a resistance. In addition, the provident fund loans are policy loans, there is no "gray interest." And the development of housing prices often require cooperation with banks, many banks agree that one of the conditions for lending is to get a large number of high-quality mortgage customers, therefore, it has also become one of the reasons why developers refused to provident fund loans.

Zhang Bo believes that the regulatory department issued a document emphasizing the protection of housing provident fund loan interests, can be seen as a series of national norms of the continuation of real estate behavior is to ensure the steady development of the real estate market one of the measures. In resolving this issue, we should adhere to the concept of "overstepping the barrier." That is, on the one hand, it will increase penalties for developers refusing to provide loans for provident funds; on the other hand, it will speed up the process of providing loans for provident funds and shorten the time for fund lending by means of "facilitating" loans.

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