Wuhan Second-Hand Housing Loan Survey: Over 20 Years, The House Was Forced To Withdraw By The Bank, Just Need To Turn To The Far City

Recently, the country's mortgage tension in many places, including Wuhan, Zhengzhou, Guangzhou and other cities spread "second-hand housing loan suspension" news. The 21st century economic reporter has visited many places and learned that although there are heated discussions on "stopping lending" on the Internet, there is no official document issued by the bank in Wuhan, or the official said to "stop lending" for second-hand housing.

However, it is a fact that the speed of second-hand housing loans has slowed down and the approval has been stricter. A number of intermediaries in Wuhan disclosed to reporters that the bank lending cycle has been extended from 2-3 months to at least 4-6 months, and the bank will "selectively lend" to the second-hand housing, and the houses with the age of more than 20 years are generally "dissuaded" by the banks. Customers who can provide detailed flow, have higher payment amount of five insurances and one fund, work in central enterprises and state-owned enterprises, have financial management funds in corresponding banks or can accept interest rate floating, are more likely to get loan support.

A staff member of Wuhan Branch of a state-owned bank revealed that the amount of housing loan is really tight, there are relevant temporary control, the new housing loan is OK, the second-hand housing loan control is strict, the bank can not give the buyer an accurate loan time.

Selective lending of banks

According to the feedback from many intermediaries, at the end of May, the second-hand housing intermediary felt the tightening of bank credit line. An intermediary said, "in the past years, we would not feel the amount of money tight until the fourth quarter. At the end of May this year, we received the news from the bank. The bank acted very quickly and did not give any transitional period."

A second-hand housing loan form circulated on the Internet in Wuhan shows that bank of China, industrial and Commercial Bank of China, Agricultural Bank of China and Bank of communications have stopped lending. According to the reporter's investigation, Wuhan's second-hand housing loan has not been clearly announced to stop, most of the banks use the "queuing" theory.

"We didn't stop lending, we just queued up to make loans." A relevant person of Wuhan Branch of a state-owned bank revealed that there will be a quota in the first two or three days of the month. If there is a quota, the loan will be arranged according to the policy. The queuing time is not good and can not be clearly guaranteed with customers. China Merchants Bank Qingdao Road sub branch in charge of a personal loan staff, now the second-hand housing commercial loan cycle for half a year, provident fund loan or mixed loan cycle is longer.

"The number of cases accepted per day has been reduced, which is equivalent to" limit number. " The person in charge of a large intermediary agency in Wuhan said that each bank has several branches to connect with the second-hand housing business in different regions. The bank will still accept the second-hand housing business according to the order of filing. However, due to the reduction of the average daily acceptance number, the lending cycle has been extended to at least 4-6 months.

"However, some houses will be selectively rejected by banks." Liu Min (pseudonym), head of a second-hand housing agency in Qingshan District, Wuhan, told reporters that there would be more houses with more than 20 years of age and no elevators in Qingshan District, which is often called "old broken small". These housing loans were generally rejected by banks.

The person in charge said that the threshold for many banks to accept second-hand housing loans is at least 500000 yuan. Some houses with more than 20 years of age have a small area, and the loans are less than 500000 yuan. Banks are not willing to accept such orders.

Even if the housing age is not more than 20 years, the bank will be more stringent on the qualification requirements of loan customers. An intermediary in the fruit lake area of Wuchang revealed that customers with high quality of flow, high payment amount of five insurances and one fund, working in state-owned enterprises of central government, having financing funds in corresponding banks, or being able to accept floating interest rates, are more likely to get loan support.

Loans blocked and demand shifted to remote urban areas

At present, the credit tension, industry insiders generally believe that the total amount of housing loans to control the overall tone.

At the end of 2020, the central bank and the China Banking and Insurance Regulatory Commission jointly issued the "notice on the establishment of a centralized management system for real estate loans of banking financial institutions", which implemented file management on all banks and stipulated the upper limit of the proportion of real estate loans and personal housing loans of all banks. According to the statistics disclosed in the annual report of 2020, 13 of the 37 listed banks have exceeded the standard in terms of real estate loans or personal housing loans.

Li Guozheng, director of the central China Market Research Center of China Central Research Institute, believes that after the gradual refinement of the housing loan quota management, banks will give priority to the needs and quota of new housing customers for the sake of cost efficiency. In addition, the first semi annual report of banks facing the requirement of real estate loan concentration in the middle of last year will naturally tighten the amount of second-hand housing loans. However, the phenomenon of "selective lending" and the longer time of mortgage lending has indeed affected the turnover of second-hand housing.

According to the data of some research institutions, in June, 43% of the respondents felt that the difficulty of loans increased. The proportion of respondents' house purchase demand decreased by 10% compared with the previous month, and the overall planned house purchase demand decreased significantly. From a regional perspective, the decline of planned house purchase in the middle reaches of the Yangtze River and Central Plains accounted for more than 10%.

He Chuwu, a broker of Wuhan Huihong Real Estate Marketing Co., Ltd., said that after the tightening of bank loans, the company had withdrawn six second-hand housing transactions, and the customers had signed in person, but had not yet been approved. The bank made a refund due to credit shortage.

Liu Min (pseudonym) bluntly said that due to regional development factors, there are more second-hand houses over 20 years old in the region, and the impact is relatively strong, and the turnover of second-hand houses has dropped by half. Full fund customers with sufficient capital reserves have greater bargaining power. She encountered such a situation in June. After hearing the news of the difficulty in lending second-hand housing, the buyer directly asked the seller to include tax and intermediary service fee on the price already negotiated. The seller was not willing to "reduce the price in disguise", and the result was unhappy.

However, the rigid demand of buying second-hand housing due to loan obstruction will shift the demand to further urban areas. The reporter noted that the most sensitive head of the market wind direction has captured this information. In addition to the optical valley, a large number of land lots were sold in the remote areas of Caidian, Wuhan, which will be listed in half a year.

According to the data of the China National People's Congress of the people's Republic of China, 13 plots were sold in Caidian District, with a floor area of 1.6321 million square meters, ranking first among all the districts participating in the centralized land supply. Vanke invested 5 billion yuan to win four parcels of land, with 760000 square meters of storage. Three of them are located in Dongxihu, Huangpi and Caidian, and are the first to lay out the Hengdian and Zhashan plates of Huangpi. Jindi invested nearly 4.1 billion yuan to win three parcels of land with a construction area of nearly 1.02 million square meters, two of which were located in Caidian and Jiangxia.

Quota control or normalization

According to the statistics of housing management department, in the first half of 2021 (from January to June), about 124046 new commercial houses were sold in Wuhan property market. As the impact of the epidemic in 2020 is not comparable, the number of commercial housing transactions in the first half of 2021 is 26.28% higher than that in 2019.

"The number of new houses in Wuhan is among the top three in China all year round, and the market activity is very high." According to Li Guozheng, Wuhan's property market turnover ranking has been very high over the years. Whether it is bank credit lines or loan interest rates, it has been "unfriendly" in Wuhan.

On June 25, this year, some banks in Guangzhou adjusted the interest rate of the first set of housing to 5.55%, and the interest rate of the second set of housing to 5.75%, which was the interest rate after increasing four times in half a year. Affected by the tight credit line, the interest rate of the first set of housing loan in Wuhan area has been raised, generally maintained at 5.68% - 5.78%, and the interest rate of second set of housing is generally 5.93% - 6.03%.

Li Guozheng said that in July and August, the tense situation of Wuhan's credit line will be eased to some extent, but the control of loan quota and proportion will become normal. The era of large-scale capital inflow into the real estate market is over, and the era of using leverage to hype the property market is gone“ Many investors' leverage calculation is accurate to the day, and the means of cost control make it difficult for real estate speculators to cash out quickly. "

Shell Research Institute said that after the assessment node in the first half of the year, the bank's credit line and lending cycle in the second half of the year will gradually return to normal, and the market transaction scale will maintain a steady growth momentum of volume increase and price. It is expected that the growth rate of transaction volume of second-hand housing market will slow down in the second half of the year, and the transaction scale of new and second-hand houses will increase by more than 10% compared with last year.