"Finally it's here! Just received the notice, we can also report for approval according to the old interest rate. A few days ago, Xiaolin (pseudonym), a buyer of a new real estate in Jiading District, Shanghai, told the first financial reporter that her heart that has been hanging recently can be put down.
This is due to the fact that a month ago, Shanghai raised the interest rate of personal housing loans, making it clear that buyers who have not completed the online signing since July 24 need to implement the new loan interest rate. However, a practical problem is that some buyers completed the subscription before July 23, but due to the reasons of the visa restriction, they failed to complete the online signature before the 23rd, so they faced the need to implement the new interest rate.
In this regard, the Shanghai Real Estate Exchange Center issued an announcement on August 5, saying that for buyers who have completed the first-hand housing subscription and selected housing before July 23 (including July 23), the application for personal housing loans is carried out in accordance with the policy before the adjustment, that is, according to the original interest rate.
However, in the actual application process for a loan, CBN learned from a number of home buyers that the regulations of different banks are not the same, some say that they can be implemented according to the old interest rate, but they still need to wait for the approval result; some say that they have not received the relevant notice and are still implemented according to the new interest rate. This means that for this part of the home buyers, the current Shanghai banking industry has not unified the implementation standards for the interest rates of new and old loans.
"I can follow the old interest rate"
Kobayashi, a home buyer at Nanshan Hongqiao Lingfeng in Jiading, subscribed for a property in June this year, then subscribed for a commercial house on the opening day of July, paid the down payment within a week after the subscription (July 14), and then waited for the online signature.
"Due to the restrictions on signing, my online signature has not been completed for a long time. We have more than 300 sets of openings in this period, but the daily network signature amount is only about 5, and we can only rely on sales to grab, and we can't grab it if we are slow, and we can't urge it. Kobayashi said.
Unexpectedly, in the process of waiting for the online signature, Shanghai raised the mortgage interest rate. CBN has reported that since July 24, the interest rate of the first home mortgage in Shanghai has risen from the previous 4.65% to 5%, and the interest rate of the second home mortgage has risen from 5.25% to 5.7%.
For home buyers, after the mortgage interest rate is raised, how much more will the loan be repaid? The reporter calculated that if the first house is taken as an example, if the commercial loan of 2 million yuan has been loaned for 30 years, according to the original loan interest rate of 4.65%, calculated in the form of equal principal and interest, the monthly repayment is about 10312.74 yuan; and according to the 5.0% loan interest rate, the monthly repayment is 10736.43 yuan, which is equivalent to repaying 423.69 yuan more. At least until the bank adjusts the mortgage rate to the new rate at the beginning of next year, home buyers will need to pay this additional cost for several months.
The reporter learned from a number of bank mortgage managers at that time that for home buyers, whether to implement according to the new interest rate is mainly based on the time of signing the contract online. If the online signature is completed before July 23, it can be at the original interest rate, otherwise it needs to be executed according to the new interest rate.
This makes buyers like Kobayashi who fail to complete the online signature in time have to pay higher loan costs, and Kobayashi once felt helpless. According to media reports, between June 10 and July 20, the 32 newly opened subscription communities opened in Shanghai have customers who have not been able to sign online, and these communities are distributed in Jing'an District, Pudong New Area, Minhang District, Jiading District, etc., and the number of customers who failed to sign online may reach more than 8,000 groups.
On August 5, the Shanghai Real Estate Exchange Center issued an announcement saying that "for buyers who have completed a first-hand housing subscription and selected housing before July 23 (including July 23), apply for personal housing loans in accordance with the policy before the adjustment."
Once the announcement was issued, it attracted much market attention, which meant that buyers who had previously been delayed due to online signing could also apply for mortgages at the original low interest rate. However, the reality is different.
"When I saw this news, I immediately asked the lending bank (a branch of Minsheng Bank), but at that time the bank told me that I had not received the relevant notice and was still implementing according to the new interest rate." Kobayashi told reporters. This made Kobayashi anxious, and she asked the loan manager for updates almost every day.
The reporter also called a branch of the above-mentioned Minsheng Bank, and the credit manager of the bank told the reporter at the time that according to the current review opinions, if the credit application is only completed and the relevant process has not been followed, it can only be implemented according to the new interest rate.
However, in the group of house buyers she joined, recently there have been feedback from loan households of large state-owned banks that they can apply for housing loans according to the old interest rate, such as a branch of the Construction Bank and a branch of the Agricultural Bank, while many branches of The Minsheng Bank, Everbright Bank and Industrial Bank said that they are still in accordance with the new interest rate.
It wasn't until August 19 that the situation changed. "Banks have finally relented, and now we can also report for approval at the old interest rate." Kobayashi told reporters. At the same time, some buyers said that a branch of Everbright Bank can also be reported according to the old interest rate.
The reporter learned from the credit managers of many banks that whether the buyer can follow the old interest rate mainly depends on whether he is not on the list. This list is submitted by the developer to the Shanghai Municipal Housing Authority, and then the Municipal Housing Management Bureau contacts the District Housing Management Bureau to verify whether it has entered the Housing Authority system, and finally returns it to the bank. "It is bounded by the time of subscription, and we have sent the list to the bank." The relevant staff of the Jiading District Housing Management Bureau told reporters.
However, at present, some buyers have reported to First Finance that only some branches of individual banks have received the list, and many other banks have not received it. The credit manager of a branch of the Bank of Shanghai also told reporters that the bank has not yet received the list of the Housing Authority, and if it receives the list, it will contact the loan households in the list to sign an application for the implementation of the old interest rate.
It is reported that this is also the usual practice of banks, that is, after the loan household signs the application form, together with other documents, such as real estate information, house selection date, corresponding list of buyers, etc., it is reported to the branch for approval, and finally the results of the branch approval are seen.
"Waiting anxiously"
Unlike Kobayashi's luck, some people are still anxiously waiting. Some buyers have reported that at present, some branches of Industrial Bank and Bank of China still say that they have not received relevant notices and are still implemented at the new interest rate.
In a nutshell, the current situation is that although it is the same bank, the caliber of different branches is different; and the response of the same branch is not the same for different properties.
"I just want to know if there are any specific rules for the implementation of the old and new interest rates." A buyer Xiaoqin (pseudonym) sighed to reporters. She began to choose a house on June 9 this year, due to the new house restrictions, until July 11 to complete the online signature, and signed a loan contract with the bank, the system shows that the loan was accepted on July 13, but by the 24th the loan has not been approved, the result can only be implemented according to the new interest rate.
"Between the 13th and the 24th, there was no request for any additional materials, and until recently, after agreeing to the new interest rate, the loan process was very fast." Violin said.
In this regard, Shanghai Zhongyuan real estate market analyst Lu Wenxi told reporters that at present, banks in the implementation of mortgage interest rates are in accordance with the principle of marketization, so the situation will be different, the standards are not the same, mainly controlled by the bank itself, may not be able to formulate a unified implementation rules.
In addition to the loan interest rate, there are also people who are anxiously waiting for the online signature. A buyer said that he had signed the initials and paid the down payment, but he had not yet been able to grab the online signature. The agreement requires that the online signature and loan acceptance be completed before November 30, otherwise it is a default, and according to the current speed of online signing, it may not be completed.
Xiaoling, who subscribed to the capital of Lingang, faced similar troubles. "I completed the subscription on July 19, it's been a month, we only signed 3 sets of this disk network signature, I don't know what the situation is."
Xiaoling also told reporters that her loan manager said that it could be implemented according to the old interest rate, but there was a precondition that the online signature must be completed by November 30. "I feel that the loan (interest rate) does not matter, I can sign it online."