2014-08-27

Beijing Mortgage Rates Ease

Banks and media are going back and forth in their claims, but now the media is saying first time home buyers in Beijing can again borrow at 10% off the prime rate. This comes just ahead of Silver September and Gold October, two of the biggest months for real estate sales.

北京房贷现松动潮 首套房利率9折重返市场
21st Century Business Herald recently, with the deregulation throughout the real estate policy, in Beijing's first suite loan rates are also quietly loose.

21st Century Business Herald reporter visited a number of state-owned banks, shares of the bank was informed that since mid-August, a number of banks have lowered the Beijing Branch of the first suite of benchmark interest lending rate to 9.5%, more CITIC Bank , China Merchants Bank , HSBC etc., to reproduce a 10% interest rates.

First mortgage interest rates the lowest 10%

Since mid-August, China Merchants Bank, CITIC Bank and HSBC in Beijing lowered mortgage rates, the minimum can be performed 10% benchmark interest rate. But are limited to first-time buyers of second-hand housing individuals, and there is a different form of additional conditions.

China Merchants Bank's practice is to require a certain percentage of the loan applicant deposits deposited as margin loans.

"To reduce the risk, the first suite of applications for loans to pay 15% of the margin deposit for a year, the interest rate can give 10% discount, pay 5% margin, can give 9.5% of the amount is not required to apply for loans." Merchants Bank Beijing Haidian District personal loan center a credit manager bluntly.

These credit manager told reporters: "This is for the policy, Beijing Branch, adjusting almost a month, the amount of more relaxed, you can grant complete loan, less than a month from the approval of the loan." This statement and the bank, Chaoyang District, personal loan center staff expressed unanimous.

For changes in mortgage policy, China Merchants Bank, responsible person to respond to 21st Century Business Herald reporter said: "We mortgage policy has not changed, but according to the lender qualifications, risk tolerance, there may be differences in pricing."

CITIC Bank loan interest rates is limited to channels of cooperation with real estate agency.

August 19, CITIC Bank and chain of family property and announced the signing of a strategic cooperation agreement in Beijing Homelink Real Estate Home Suite customers enjoy a 10% discount lending rate.

In addition, real estate agency I love my family, a spokesman told reporters in Beijing, said:. "CITIC Bank approved the beginning of the year to give us 6 billion line of credit, and now the first suite of minimum 10%, but there are certain requirements for qualified customers"

However, a number of Haidian District, Beijing Branch of China CITIC Bank credit manager, said: "The first implementation of the benchmark interest rate home loan is still no concessions."

Foreign firms have also emerged conditional mortgage rates 10%. "Loan 1 million more than 9.4-fold, 9.2 more than 2.5 million loan discount, loan 4000000-5000000 can hit the 10% minimum, we do not require an additional deposit." HSBC Beijing Zhongguancun mortgage customers a branch manager told reporters.

He said: "The first suite discount always had, but turned out to be 9.6 and 9.4 fold, 9.4 and 9.2 fold now generally quarterly adjustment policies, the recent Beijing Branch particular application down, this policy is estimated that by the end of September did not change.."

HSBC Head Office official said: "For his first home loan in line with the purchase requirements, we integrated assessment of the specific circumstances in line with the purchase of the required loan applicants lending rates, combined with local market conditions due consideration discount rate considering all aspects. factors, including work, income, credit history, repayment ability and the housing situation for loans, etc. Second home loan interest rate of not less than 1.1 times the benchmark rate. "

9.5 fold become mainstream

21st Century Business Herald reporter from the latest bank lending rate chain of family property acquired display, August 25, 20 banks in cooperation with the agency, the nine banks first set of second-hand housing loan interest rates varying degrees down, two floating interest rate down from 10% to 5%, and the remaining nine implementation of the benchmark interest rate.

In addition to the three banks, the implementation of the benchmark interest rate 9.5 fold five banks are the Agricultural Bank , Bank of Communications , Beijing Bank , Citibank, DBS Bank, and Beijing Rural Commercial perform the 10% discount.

A chain of home real estate real estate agent in Beijing said: "At present, most banks in Beijing have 9.5 fold, large banks such as ICBC, CCB, or benchmark interest rate, the higher the discount the customer put the amount of the higher qualification requirements may be more. Early cancellation concessions, our lending rate table 15 days for once. "

21st Century Business Herald reporter visited Beijing Financial Street, accusing him of several state-owned outlets survey, the Agricultural Bank, Bank of the first suite does have cut lending rates, but the conditions are different.

A branch of Bank of Communications Beijing Financial Street loan department staff, said in mid-August, Bank began to cut interest rates, the first suite of loan 1 million or more, the minimum hit 9.5 fold, but there is an additional condition. "Lender qualification, real estate loans have requirements, including real estate and other details of the volume rate, the lender will need to purchase certain financial products." Above the staff said.

Beijing Chaoyang District Agricultural Bank a loan center manager, said: "The current implementation of the first suite of benchmark interest rate, the specific operation to see the letter recorded by the lender, not across the board, at most, 9.5%, there is no requirement to make deposits."

Provide information and chain of family property is different, Beijing Bank still perform benchmark interest rate. "Developers and banks, lending rates agreed upon by both parties, with the banking channels may not be as direct loans .8 March 11 lowered the benchmark interest rate, floating interest rates until more than a year." Beijing branch of Bank of Beijing Financial Street a credit manager said.

Recent market rumors, Minsheng Bank to restart the personal mortgage business in Beijing. Minsheng Bank, Beijing Financial Street a credit manager of a network of consumer credit, said: "We do not have a personal mortgage loans, for several years did not do." Consistent with this statement and Haidian District, a branch of the bank credit manager.

For the recent Beijing's first home loan interest rate changes, the Central University of Finance and Banking Research Center, Guo Tian Yong said the fall in interest rates is mainly commercial activity, July bank lending growth fell more, from the launch of view, faced with insufficient effective demand; see from mobility , currently relatively early this year was loose. Plus the central bank to reduce the cost of financing the social appeal, does not exclude mortgage interest rates continue to decline in the second half.

No comments:

Post a Comment