Personal housing loan business is one of the main asset businesses of commercial banks. It refers to the loans that commercial banks open to borrowers to purchase first-time housing (that is, housing developed and constructed by real estate developers or other qualified development entities and then sold to individuals).
In order to further improve the personal housing credit policy, support residents’ demand for self-occupied and improved housing, and promote the stable and healthy development of the real estate market, with the approval of the State Council, the People’s Bank of China issued the following notice on relevant matters:
1. Continue to provide housing financial services to meet the needs of households for improved housing
Encourage banking financial institutions to continue to issue a combination of commercial personal housing loans and housing provident fund entrusted loans to support residents Families purchase ordinary owner-occupied housing. For households that own a house and have an outstanding home purchase loan and apply for a commercial personal housing loan to purchase an ordinary home in order to improve their living conditions, the minimum down payment ratio will be adjusted to no less than 40%. The specific down payment ratio and interest rate The level is reasonably determined by banking financial institutions based on the borrower's credit status and repayment ability.
2. Further leverage the housing provident fund’s role in supporting reasonable housing consumption
Families with deposited employees use housing provident fund entrusted loans to purchase their first ordinary home, and the minimum down payment ratio is 20%. ; For deposit-paying employee families that own one house and have paid off the corresponding house purchase loan, in order to improve their living conditions, they can apply for a housing provident fund entrusted loan again to purchase an ordinary self-owned house. The minimum down payment ratio is 30%.
3. Strengthen policy guidance and do a good job in implementation, supervision and policy evaluation
The dispatched offices of the People’s Bank of China and the China Banking Regulatory Commission at all levels must follow the principle of “implementing policies according to local conditions and providing classified guidance” , communicate well with local governments, strengthen supervision over the implementation of differentiated housing credit policies by banking financial institutions; on the basis of the national unified credit policy, guide banking financial institutions to reasonably determine the minimum down payment for commercial personal housing loans within their jurisdiction loan ratio and interest rate level; closely track and evaluate the implementation and effect of housing credit policies, effectively prevent risks, and promote the stable and healthy development of the local real estate market.
"Notice of the People's Bank of China and the China Banking and Insurance Regulatory Commission on Issues Concerning Adjustments to Differentiated Housing Credit Policies" For households purchasing ordinary self-owned houses with loans, the lower limit of commercial individual housing loan interest rates for their first homes will be adjusted. In order to be no less than 20 basis points lower than the market quoted interest rate for loans of the corresponding period, the lower limit of the interest rate policy for commercial personal housing loans for second homes shall be implemented in accordance with current regulations. On the basis of the national unified lower limit of loan interest rates, the local offices of the People's Bank of China and the China Banking and Insurance Regulatory Commission have guided the provincial market interest rate pricing self-regulatory mechanisms in accordance with the principle of "city-specific policies" and based on the changes in the real estate market situation of each city within their jurisdiction and the regulation and control of the city government. Requirements to independently determine the lower limit for commercial personal housing loan interest rates for first and second homes in each city within its jurisdiction.
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