Information > General articles > Buying Loan Guide > Property News >  text

In 2018, mortgage or minus trillion yuan

Time: 2018-02-11         Source: China Times         Author: China Times

Since 2018, with the supervision of bank credit and trust funds in violation of regulations to enter the real estate market, housing financing is increasingly difficult, even some banks have suspended acceptance of new credit extension of the real estate industry, or suspended real estate development loan business.

"Over the past years, regulation and control, even if the banks tightened, but other channels are open, housing enterprises in the community can still find a lot of money to maintain, but this time the regulator constantly out of paper, many housing companies off the rear, room The company was forced to go abroad for financing.” A brokerage person in Shanghai told the “China Times” reporter that this time it was like leveraging back to 1997.

A Chongqing trust company source told reporters that the average financing cost of the top 50 housing enterprises through the trust is between 9% and 10%, and that of the 50-100 is about 12%.

According to the reporter’s understanding, large-scale housing enterprises have issued notices within the company, demanding that they reduce land acquisition and maintain the smoothest flow of cash flow.

Housing companies blocked financing channels

Centaline Property Statistics, there are currently 15 housing enterprises announced January 2018 sales of up to 173.774 billion, up 74% year-on-year. Although sales have set a new historical record, housing companies have begun to feel a bit cool.

An insider of a brokerage in Shanghai told the “China Times” reporter that the original source of funds for housing enterprises mainly includes several channels. First, bank development loans are required to meet “432” requirements, and secondly, trusts also need to meet “432”. Financing can be done without mortgages of pure credit, formal financing channels are rapidly shrinking, other financing channels such as P2P, and local equity financing platforms, such as Guangdong Gold Exchange, Qianhai Gold Exchange, Chongqing Gold Exchange, Lujiao All of this can be used to finance housing companies, but now even the worst financing platforms have been limited.

According to the regulations of the China Banking Regulatory Commission, the real estate trust loan must meet the “432” condition, 4 represents the real estate company's 4 certificates, 3 means that the real estate company in the project has at least 30% of its own funds, and 2 means that the financing party has at least two Grade or above qualifications.

Housing enterprises through bank loans, mainly in two ways, land and development loans, the former housing prices do not need to take land mortgages, the top 30 housing enterprises, relying solely on the company's pure credit guarantee can be from the bank loans, but the reporter understands, Now that no bank is willing to do it, it must take land mortgages.

"There is no quota for joint-stock banks to develop loans, and there are still a certain amount of quotas for China Agricultural and Agricultural Bank of China to establish a postal savings bank, but all bank land financing can't be done." A financial industry veteran told reporters that large housing enterprises can also issue hair. Debt, but issuing bonds is difficult now.

The trust company can only do two businesses at present, land and development loans, must have land mortgages, and their funds are raised through banks.

According to data from Yiyi Trust Network, in 2017, 68 trust companies issued a total of 1907 real estate collective trust products, representing a year-on-year increase of 123%. The raised capital amount increased significantly from RMB271.733 billion in 2016 to RMB626.102 billion. 130.4%.

The trust loan will be the focus of the reorganization in 2018.

A Chongqing trust company source told reporters that the average financing cost of the top 50 housing enterprises through the trust is between 9% and 10%, and that of the 50-100 is about 12%. "Now an average trust is raising less than 300 million yuan in a month. There are nearly 20 billion yuan worth of projects that have already passed, and 20 billion are waiting for the meeting. The main reason is that there is no money in the market." According to report, there have been large-scale housing enterprises. Internal requests are made to maximize the smooth flow of cash flow. Sunac's sales in multiple cities require full-buy purchases and return funds as soon as possible. However, most housing companies are not able to take the counter-cyclical cycle. Therefore, even if the regulation has been continued for more than a year, the housing companies will not lose their enthusiasm.

According to statistics from the Centaline Property Research Center, in 2017, the total amount of the most active 50 housing enterprises in the area has reached 229.27 billion yuan. Compared with the 1366.8 billion land acquisitions in the same period of 2016, the increase reached 75%.

An insider of a large-scale housing company in Shanghai told the reporter that the developer’s cash flow is always tense. Last year, sales were good. The current capital chain was not a problem at all. The main thing was that the pre-sale permit was not available, and the developers were in a hurry. Prices, housing prices are reluctant to cut prices, so they stalemate.

The above-mentioned trust company sources said that the capital chain of housing enterprises is very tight. Although sales last year were good, but they also took more land and the development cost was huge. Originally, real estate companies were highly leveraged. Once the bank size was limited, the issuance of debt review was limited. There will be problems with the main funding channels.

“In the past two years, the cost of issuing real estate was mostly around 6%. Since the second half of last year, it has not been able to come out. Only abs, abn such cash-flowing assets will be better,” said a large brokerage source.

Mortgage or minus trillion in 2018

In addition to other sources of funds, the most important thing affecting the capital chain of the housing enterprises is sales, but the banks are continuing to tighten on individual loans.

Everbright Bank loan manager told reporters that this year compared with the amount of mortgage loans last year can not be the same language. "I don't know the exact number, but 90% of our mortgages that are put on a good start are non-housing loans, such as loans for business loans, consumer loans, commercial housing mortgages, car loans, etc."

Since the beginning of this year, the central government has repeatedly released severe control over the inflow of funds into the real estate industry. On January 13, the China Banking Regulatory Commission issued the "Notice on Further Deepening the Market Chaos in the Banking Industry." The focus of the rectification includes the issue of personal housing loans for down payment that are not compliant; it can be used as a financing channel or loan channel, directly or indirectly. Institutions provide facilities such as down payment for loans; comprehensive consumer loans, personal business loans, credit card overdrafts and other funds are used to purchase homes.

On January 25-26, the China Banking Regulatory Commission held the 2018 National Banking Supervision and Management Work Conference also proposed that this year will continue to prevent and control financial risks, and will reduce the debt ratio of enterprises and strictly control the financing of high-debt enterprises while controlling The excessive growth of residents' leverage rate continues to curb the real estate bubble.

Recently, the Shanghai Banking Regulatory Bureau issued the “Circular on Regulating the Implementation of M&A Loan Business”, requiring that commercial banks within the jurisdiction strictly abide by the regulatory requirements for real estate development loans, and that they must not issue loans of any kind to real estate projects with “four incomplete certificates”. M & A loans may not be invested in land transfer fees that have not been fully paid. Combined with the previous policy of tightening funds for enterprises, the difficulty of obtaining capital from housing enterprises has increased again.

From the morning of February 5 to February 6, the working meeting of the People's Bank of China was held in Beijing in 2018. It was ranked second in the task of preventing and resolving financial risks in 2018.

Affected by this, on February 7, real estate stocks plummeted, and stocks such as Rongsheng Development fell.

According to Lian Ping, chief economist of the Bank of Communications, both the current sales of commercial housing and the growth rate of personal home purchase loan balances have started to fall back from their highs. Based on past experience, it is expected that both will reach the bottom by 2018. It is simply assumed that the bottom of the round of the real estate cycle is about the same as the previous round. It is estimated that the new personal housing loan in 2018 will be about 3.3 trillion yuan, which is 800 billion to 1,000 billion yuan less than in 2017. However, since many individual personal loans in 2017 may have been approved but not loaned, it is expected that personal mortgages will still be available on a certain scale in the first quarter of 2018 and will not shrink immediately.

Dozens of cities, hundreds of banks, all loan interest rates, all in the "find 360 housing" (fangdai123) public number, click on the menu "buy house tools", with the best interest rates, buy the most favorite house.

    You may need these loans

    Housing Loan

    Mortgage records for loans

    500000

    Maximum amount

    0.89%

    Minimum monthly interest rate

    1 day

    Fastest loan time

    apply immediately

    Redemption loan

    Mortgage, help selling room

    6.5 million

    Maximum amount

    2.20%

    Minimum monthly interest rate

    30 days

    Fastest loan time

    apply immediately

    House loan

    Home mortgage, good capital turnover

    10 million

    Maximum amount

    1.20%

    Minimum monthly interest rate

    7 days

    Fastest loan time

    apply immediately

    Decoration loan

    Buy house renovation loan

    500000

    Maximum amount

    0.37%

    Minimum monthly interest rate

    1 day

    Fastest loan time

    apply immediately
    Save this post to my email
    Subscribe to the mortgage, real estate news

    Scan it to make buying a house easier!

    Welcome to pay attention to financial 360 mortgage
    Official Wechat (Fangdai123)

    【Exclusive Manuscripts and Disclaimer】 All works marked as “Future 360 ​​Original” must be reproduced, excerpted or otherwise used by any entity, organization or individual without authorization in writing. Has been authorized in writing, indicating the source melts 360. Violations of the above statement inflicted violations of the legal rights and interests of 360 will be legally pursued. The materials and conclusions in the work are for reference only and do not constitute operational recommendations. For written authorization, please email: academy@rong360.com

    Comment list (User comments are only for users to express personal views, does not mean that this site agrees with their views or confirms their description)
    you may also like
    • Faced with financial pressure in the fourth quarter  Wen/Xu Qian After the real estate market experienced the previous crazy scan of goods, after the National Day holiday, the sales speed slowed down obviously, and the housing company's debt repayment pressure and financial pressure also followed. Moody's data shows that nearly half of the bonds and options due to expire next year are from China...
    • Housing companies may face financing "winter" in the fourth quarter, and part of the financing costs have exceeded 10%  The real estate industry may face financing "winter" in advance. Under the background of strict control of funds, the trust again became a life-saving straw for real estate funds in 2017. As of October 31, 68 trust companies issued a total of 1050 real estate fund-raising trusts this year, raising funds...
    • Housing companies borrowing debt to buy a hidden leverage crisis or risk capital chain risks  According to statistics from the Centaline Property Institute, there have been 300 land parcels of more than 1 billion land in the country since the beginning of this year, of which 150 were high prices with a premium rate exceeding 100%. Housing companies, including Cinda Real Estate and Rongxin China, frequently make high-priced land. Listed housing companies have issued...
    • Funds "see top" next year's housing prices or winter  With the promulgation of the intensive control of the property market, various funds that have entered the real estate and basic industries have rapidly “fighted”. The financing scale of the trust channel was “backward”, the bond financing of the housing enterprises fell by 70%, and the US debt was redeemed in advance. As a result, the “Suction King” of 2016 was disastrously ended at the end of the year. ...
    • A Shenzhen bank leader followed the trend last year to real estate, leverage is too high and the capital chain is facing a break  This article is based on the original works of 360 columnist Cherry House. It only represents the author's personal point of view. It does not represent the 360 ​​official position. Please contact the author for permission. Today, a fan of the bank broke the news with Cherry: Mr. A, a middle-level leader of a state-owned bank in Shenzhen, because...

    Buying a home loan

    Housing Loan

    Mortgage records for loans

    Redemption loan

    Mortgage, help selling room

    House loan

    Home mortgage, good capital turnover

    Decoration loan

    Buy house renovation loan