A few days ago, the China Securities Journal China Securities Taurus reporter visited dozens of banks, real estate agencies and other institutions in first tier cities such as Beijing, Shanghai and Shenzhen to investigate the second-hand housing loan business. Although major cities have slightly different bank interest rates and lending cycles, on the whole, the current bank loan amount is sufficient, the lending cycle returns to normal, the first set of loan interest rates have been slightly loosened in some areas, and the enthusiasm of home buyers has rebounded.
At the same time, experts remind that “no speculation in housing and housing” is still the general tone of the policy, the prudent principle of housing loans remains unchanged, and the regulation of loans is still based on meeting reasonable housing needs and ensuring the basic housing needs of citizens.
Beijing:
stable interest rate and smooth mortgage lending
After the Spring Festival, the lending rate of second-hand housing loans of many banks in Beijing continued the pre Festival style. “At present, there is no need to queue up for loan lending. It is expected that the loan amount will be sufficient in the whole first quarter. If all processes are smooth, the loan can be made within a month.” China Merchants Bank Co.Ltd(600036) a staff member in Xicheng District told reporters.
“The transaction cycle of portfolio loan is longer; at present, pure commercial loan lending is very fast, and the lending can be made within 5-7 working days as soon as the transfer of ownership; the lending of provident fund is estimated to be within one and a half months.” Said the real estate manager of a large intermediary company in Fengtai District.
At the same time, she pointed out that since the implementation of the “four reductions” (i.e. reducing materials, time limit, running and signing) in the provident fund loan business, the loan review process has been accelerated. Generally, the results can be produced in 6 or 7 working days. “If there is a customer with the shortest approval time, it will be completed in 3 working days”.
In addition, a loan manager of ICBC told reporters: “at present, the interest rate is stable. The floating interest rate is adjusted with the five-year LPR interest rate published every month, and the increase point of the bank has not changed. At present, the interest rate of the first commercial loan is 5.15%, and that of the second is 5.65%”.
Shanghai:
the loan amount is sufficient, and the volume of second-hand houses is expected to rise
Since the Spring Festival, the reporter learned that at present, the amount of housing loans of banks in Shanghai is relatively sufficient, and the lending rate remains relatively fast. The overall cycle is not different from that in January.
China Construction Bank Corporation(601939) the personal loan manager of a sub branch in Shanghai told reporters that the bank’s current approval cycle is 2-3 weeks, and the lending cycle is basically about one month. Shanghai Pudong Development Bank Co.Ltd(600000) a staff member said that at present, Shanghai is relatively normal and does not need to wait too long. The approval time is about 3 weeks and the lending cycle is about 1 month.
The rapid rate of housing loan lending mainly lies in the sufficient amount of bank credit. The personal loan manager of CCB said that the speed of lending depends on the capital. “In the first half of the year, the bank quota was relatively sufficient and not tight.” Lianjia, an intermediary in Putuo District, Shanghai, further said.
However, even if the lending speed is accelerated, the loan amount problem in Shanghai is still the “trouble” faced by rigid needs. At present, the actual down payment for the purchase of second-hand houses as the first suite in Shanghai reaches 50% – 60% of the house price. Wang Ming (a pseudonym), an intermediary in Huangpu District, Shanghai, said, “due to the ‘three prices are low’ policy, the loan amount is still limited. For example, the first house can be loaned to 50%, and the second set is almost full, with a maximum of 20-30%
In terms of volume, since this year, the second-hand housing market in Shanghai has maintained a warming trend.
“Take 2-3 groups on weekdays and 7-8 groups on weekends. Before the Spring Festival, because many owners want to finalize the house, they take it more frequently. After the Spring Festival, the construction has just started, and the number is general. It is expected that more customers will see the house on weekends.” Wang Ming said.
Shenzhen:
the mortgage interest rate was slightly loosened and the lending cycle was shortened
“The interest rate of the first house loan is 4.9% and that of the second is 5.2%. The loan amount is relatively abundant and the lending efficiency is relatively high.” A personal loan manager of Shenzhen Branch said that the current mortgage interest rate has risen by 30 and 60 basis points respectively on the basis of the latest LPR, which is basically the standard of several banks with large mortgage business in Shenzhen.
The reporter investigated several large state-owned banks in Shenzhen and many banks such as Ping An Bank Co.Ltd(000001) , China Merchants Bank Co.Ltd(600036) and Guangdong Development Bank. It was found that the housing loan interest rate in Shenzhen has indeed loosened in recent months. Before the end of 2021, the mortgage interest rates of the first and second homes in Shenzhen will rise by 45 and 95 basis points respectively on the basis of LPR, which are 5.1% and 5.6% respectively.
Corresponding to the gradual decline of interest rates, the bank’s recent lending speed of housing loans has also accelerated. A personal loan manager of a state-owned bank said that at present, the second-hand housing can be completed within one month from the preparation of materials to the approval of loans. Some cooperative first-hand real estate projects are expected to lend money within one week when they are fully prepared.
“Due to the epidemic restrictions and fewer new sites, there are not many people looking at houses on site at present. However, with the reduction of interest rates, there are more online consulting customers after the year.” According to a real estate agent in Futian, Shenzhen, the number of new houses in Shenzhen in recent months is small, the trading volume of second-hand houses is not very large, and many customers are still waiting and watching. Compared with the “benefits” brought by the reduction of mortgage interest rate, many people pay more attention to the recovery expectation brought by the reduction of mortgage interest rate to the market.
Insiders pointed out that for home buyers, “housing without speculation” is still the policy direction, the prudent principle of housing loans remains unchanged, and the regulation of loans is mainly to meet the reasonable housing demand. However, some cities, especially the first and second tier cities, have gradually bottomed out. It is predicted that they will take the lead in getting out of the downturn, and market stabilization will be the trend.
