The weather in Fuzhou is Weibo.

Recently, many property buyers found that the new house approval loan that could have been applied in about 1 month was suddenly extended to three to four months, and the news that many banks suspended housing loans rushed to Weibo for hot search.

The Notice on Further Strengthening Personal Housing Credit Management recently issued by Shanghai Banking Insurance Regulatory Bureau covers eight aspects, such as the source of down payment funds and solvency, among which a rather severe one has attracted the attention of the outside world: "It is required to focus on supporting borrowers to purchase the first set of small and medium-sized self-occupied housing loans, and housing loans can only be issued to individuals who purchase houses with capped main structures".

This regulation was promulgated as early as 2003 and its direction is very clear. In fact, new houses can only be lent if they are capped, but for various reasons, the enforcement is not enough. If this policy is strictly implemented, it will have an impact on both buyers and developers in the future.

At the same time, the 20021working meeting of Anhui Banking Supervision Bureau clearly mentioned the same content as that of Shanghai, "It is strictly forbidden for funds such as consumer loans and operating loans (housing loans) to flow into the real estate market in violation of regulations".

Phoenix Weekly Real Estate learned that due to the centralized management system of real estate loans introduced at the end of 2020, since 20021,the personal mortgage quotas in Guangzhou, Shenzhen and other cities have been obviously tight, the loan term has been extended, interest rates have risen, and the anxiety of buyers, especially those who buy the first suite, has increased, and the second-hand housing market in some cities even has the phenomenon of "just need discrimination".

For a time, small videos and photos lined up at the gate of Shenzhen Bank circulated in the circle of friends and Weibo, causing heated discussion. In order to print the credit report before the central bank system was closed, the new army did not hesitate to queue up at the bank gate.

What's more, Shanghai will carry out special inspection of real estate loan business according to the implementation of bank real estate policies and self-inspection, and take regulatory measures according to law for the problems found. Moreover, Shanxi was punished because a bank illegally issued loans to "uncapped real estate".

In fact, as early as 2003, the document "12 1" issued by the central bank clearly stated: "In order to reduce the unnecessary interest burden of borrowers, commercial banks can only issue personal housing loans to individuals who purchase houses with the main structure capped."

But it has not been really implemented in the actual operation process. According to industry insiders, it is mainly because of the profit dispute between banks. "Although the interest rate of lending is relatively low, the risk is small and the profit is considerable after the scale is formed." The department head of a commercial bank told Phoenix Weekly Real Estate.

Take the construction behavior as an example. From 2065438 to 2009, the amount of individual housing loans was 5,255.724 billion yuan, accounting for 8 1.9% of individual loans and 35% of total loans. The huge personal housing loan is a huge profit temptation for banks, and strict implementation of the regulations means that they may be one step behind their competitors when robbing customers.

In recent years, with the strengthening of the regulation of the property market and the gradual increase of uncompleted residential flats in the property market, there have even been extreme incidents in which the owners moved to live in rough houses. Moreover, in order to control risks, banks began to ferment this policy again.

At the beginning of last year, Shanxi Banking Insurance Regulatory Bureau issued the Notice on Further Regulating the Management of Personal Housing Mortgage Loan. Banking financial institutions can only issue housing loans to individuals who purchase houses whose main structure has been capped. When banking financial institutions handle housing mortgage loans in the form of new commercial housing and second-hand housing sales, they should take the mortgage contract filed with the real estate management department as one of the basis for lending.

At the same time, it will strengthen the qualification examination of housing loans, strengthen the supervision of the flow of personal comprehensive consumer loans, and strictly prohibit the misappropriation of housing funds.

The price of new houses in Taiyuan was stable in 20 19, and the introduction of this policy puzzled many local people. A netizen bought Vanke Emerald Jinyang Lake Property at the end of March 2020, and signed the contract online on April 13. When I bought a house, I learned that I had started to implement the loan capping policy. The property buyer said that he had received a phone call from the Construction Bank without interruption, changed direction and agreed to lend money, and then received a phone call from the developer to urge the loan, threatening that if the bank did not lend money, the money previously given to the developer for a similar loan deposit might not be refunded.

The buyer left a message to Taiyuan leaders in July 2020.

The reply of Taiyuan Municipal Government Office is: After verification by the Municipal Housing Management Bureau, according to relevant documents, the housing enterprises and banks have signed a supervision agreement on pre-sale funds, and the supervision bank is responsible for the supervision of pre-sale funds. According to the affiliation, please report to the provincial CBRC or the governor's mailbox.

Coincidentally, this new regulation is spreading. According to incomplete statistics, at present, Beijing, Hangzhou, Fuzhou, Wenzhou and other cities across the country have implemented the policy of "restricting loans". Most of these cities are hot cities, and the property market is relatively active, and house prices have also increased significantly before.

In Anhui, which also introduced the policy that "housing loans can only be issued to individuals who purchase houses with the main structure capped", some banks have begun to implement this policy. A netizen working in a bank in Hefei broke the news that Bank of Communications has started to implement it, Bank of Shang Hui started to implement it in March, and ICBC may be the next one.

The price of second-hand houses in Guiyang has been falling for two consecutive years, and the new sites are constantly "fancy price reduction". However, years ago, it was widely rumored in the industry that the new bank lending rules had been implemented after the building was capped. It is reported that three banks in Guiyang have decided to implement the new bank lending regulations after the project is capped, namely Guiyang Bank, China Bank and China Agricultural Bank.

The staff of Guiyang Branch of China Construction Bank said that the policy of mortgage after the house is capped is still under discussion, and you can consult the bank or the real estate office; China Industrial and Commercial Bank also understands this policy, but it has not yet been implemented; Bank of Communications said that the loan process depends on specific cooperation projects.

A grassroots employee of Guizhou Rural Credit Cooperative told Phoenix Weekly Real Estate that "at present, some properties are implemented and some are not implemented, which are completely controlled by specific managers".

"Because the personal mortgage of our bank accounts for less than 1%, and the bulk of it is consumer loans, we have been strictly implementing the policy of lending after the property is sealed. Even if the regulatory authorities are not below, many banks follow this, which has nothing to do with the key points. " A staff member in Bank of Ningbo told Phoenix Weekly Real Estate that "the general trend in the future is to be constantly strict, and the original quota is very tight".

According to industry insiders, in the past real estate sales, as long as the developer got the pre-sale certificate, signed a sales contract with the buyers, and the personal documents such as income certificate and household registration book were complete, the bank could lend money as soon as one month. At this time, only the house purchase contract was mortgaged to the bank, and the house purchase contract was changed to the bank after the real estate license was issued. If the loan is capped, "faster" will become "existing houses".

For property buyers, this operation effectively avoids the risk of unfinished business and running away. For example, buyers have already paid the down payment when buying a house. In the process of waiting for a bank loan, if the project under construction is unfinished, buyers can also avoid greater losses.

However, for developers and relevant departments, it is inevitable to issue loans after the main structure of the house is capped, which will have an impact on the developer's capital chain. It is reported that the construction period from commencement to capping is about one and a half years, and the policy of "capping lending" will lead to the extension of the payment cycle of enterprises.

A person in charge of a developer in Guizhou told Phoenix Weekly Real Estate that Guizhou had previously stipulated that multi-storey buildings can apply for pre-sale certificates with an investment of more than 25%, but they can operate internally. First, some application materials are suspected of fraud, and some directly communicate with relevant departments privately through PS photos or other stolen photos. If you want to find fault, even if you meet all the requirements, you may not get the pre-sale certificate and apply for a loan.

The continuous strengthening of macro-control has made the developer's capital chain increasingly fragile. If the developer can't get a bank loan until the main building is capped, take a 20-story high-rise building as an example, it will take a powerful developer seven days at the earliest to build a floor, and it will take 140 days for the 20th floor, which does not include irresistible factors such as weather and policies.

According to the current 30% down payment of the first suite, that is to say, it will take developers at least half a year to get back the remaining 70%, which is another big test for some developers' capital chain.

A real estate developer told Phoenix Weekly Real Estate that developers are basically "one pry ten" and use nine pots and ten pots. Under normal circumstances, 100 million yuan can start 10 billion real estate projects. One of the secrets is that the construction unit advances funds; Second, developers get the pre-sale certificate as soon as possible, sell the money back quickly and buy a piece of land quickly. If you develop the next project, the developer will have to slow down.

The person in charge of the personal loan department of a bank said that it is also a reason that developers have no rules to lend in advance. Lending is a link in the whole process of personal mortgage purchase. Real estate projects have to open within three days after getting the pre-sale certificate. As soon as the market opens, buyers will have the demand for mortgage loans. Moreover, in the sales contract, it is generally clearly stipulated that within 7 days after signing the contract, the buyer must submit the relevant information to the loan bank, and within 45 days, the balance must be credited to the developer's account. If banks don't lend, buyers will be anxious. On the other hand, development loans and personal mortgages of many projects are the same bank. Lending in advance will promote the sales of developers and help repay development loans.

What impact will lending after building capping have on property buyers, banks and developers?

"At present, the first projects affected are those that are not even underground at all. These projects are the most risky and the easiest to find." A banking industry insider believes that for property buyers, the policy has delayed the repayment time and can save more money to repay in advance, which is beneficial in the short term; For banks, it reduces the loan risk.

A salesperson of a new site in Foshan, Guangdong told Phoenix Weekly Real Estate that on the whole, the pre-sale system has not changed, and housing enterprises can continue to sell faster houses, but the repayment period of buyers and the repayment progress of housing enterprises' sales will be further slowed down, and developers will also be affected. He believes that developers may face certain financial pressure.

In the interview, some developers believe that it is also foreseeable to restrict loans and recover sales money, and Wang Mei can still quench its thirst. What's more, this is a certain thing, and it should still be affordable for some powerful developers. Moreover, in the current real estate market, it is also common for construction companies to pay in advance, so many people think that the impact of loan capping is not as serious as expected.

In addition, according to a banker, although the bank has implemented this policy, many developers have signed another agreement with the bank. Before the building is capped, if the buyers can't afford the monthly payment, the real estate company will be responsible for repayment, so that the developer can get the mortgage from the bank after getting the pre-sale certificate.

Phoenix Weekly Real Estate learned that some investors in Shenzhen, Chongqing and Guiyang are constantly selling their houses because of the superposition of various policies. "The house price in Guiyang has not risen, but the rent has dropped because of the epidemic and other reasons. A few foreign investors are selling their houses at low prices. " An intermediary said.

It is reported that as early as the end of 2006 10, Beijing Banking Regulatory Bureau urgently stopped the mortgage loan business of uncapped buildings. Half a month after the implementation of the policy, the sales of existing homes were not as active as expected, but declined slightly.

"I submitted the relevant application materials for personal mortgage to the bank on June+10/October 065438, 2020. Later, he was asked to increase his personal flow and resubmit his personal credit report. Until June of 2002 1,1,the account manager said that the materials had been approved and entered the stage of waiting for loans, and that they should have been approved years ago, but the payment for goods had not yet been paid. Mr. Xiao, a property buyer in Guangdong, is very confused.

In fact, on the whole, the amount of personal housing loans is gradually tightening.

As early as last September, the People's Bank of China had conducted a thorough investigation on borrowers and commercial banks of individual housing loans (including housing provident fund loans) newly issued in 70 large and medium-sized cities in 20 19. At that time, the central bank said that the survey was mainly to strengthen the monitoring of the real estate market, deeply understand the characteristics of residents' housing purchase and loan behavior, as well as the conditions and processes of commercial bank loan review, and accurately grasp the loan risk.

By the end of the year, the People's Bank of China and the China Banking Regulatory Commission issued the Notice on Establishing a Centralized Management System for Real Estate Loans of Banking Financial Institutions (hereinafter referred to as the Notice), which set two red lines for mortgage loans: real estate loans and personal housing loans, which were implemented on 2002 1 and1respectively.

Divide banks into five grades, set up distinct "two red lines" indicators, and limit the proportion of real estate loans for individuals and enterprises from the bank side. Starting from the relationship between supply and demand of industry funds, we can optimize the allocation of financial resources and strengthen financial support for the real economy.

This policy has caused many banks that "step on the line" to reduce the amount of personal housing loans. According to the research report of Guo Sheng Securities, according to the statistical data disclosed in the 2020 interim report, 13 banks "stepped on the line" to varying degrees. Another professional calculated according to the data released by the bank's financial report earlier, and found that four of the large state-owned banks and joint-stock commercial banks exceeded the standard to varying degrees, and both red lines of some banks exceeded the standard.

Taking China Merchants Bank as an example, according to the interim performance data in 2020, assuming that the regulatory requirements are met within four years, the scale of new retail mortgage loans will drop to 75.6 billion yuan in 20021year, which is about126.8 billion yuan lower than last year's level; The scale of new investment in enterprise real estate loans will drop to 34.8 billion yuan, a decrease of about 56 billion yuan compared with last year.

After the "Notice" was issued, the topic of # Many banks were exposed to suspend mortgage loans # directly rushed to Weibo for hot search.

After entering 20021year, the quotas of many banks in Shanghai, Guangzhou and Shenzhen were obviously tightened. A banker said, "In the past, bank loans were arranged on a quarterly basis and gradually controlled on a monthly basis. This year it was changed to monthly. Coupled with the guidance of the supervision window, the supervision is stricter and the quota is obviously tight. "

According to an official survey, since the beginning of this year 10, the interest rates of individual housing loans of major commercial banks in Guangzhou have been raised. The prime interest rate of most commercial banks is raised by 55 basis points to 5.20% (LPR) on the basis of the five-year loan market quotation; The second set of interest rates increased by 75 basis points to 5.40% based on the five-year LPR. This is consistent with the mortgage interest rates raised by the previous four major banks.

According to the monitoring data of mortgage interest rate of 674 bank branches in 4 1 key cities nationwide by Rong 360 Big Data Research Institute, 202 1 (the data monitoring period is 20210/October 20-2021February 18. The average interest rate of the second home loan was 5.56%, up 3BP from the previous month.

According to reports, since June 5438+ 10, due to the introduction of two red lines, the loan quotas of many banks in Chengdu are relatively tight, some have emptied their monthly loan quotas in a short time, and some have directly suspended personal loans for second-hand houses, including China Construction Bank, Bank of Communications and Industrial Bank.

Zhang Dawei, a real estate analyst, pointed out that this round of regulation and control policy is from top to bottom, and it is an upgrade under the supervision of the Ministry of Housing and Urban-Rural Development, which is conducive to curbing the virtual fire in current hot cities and preventing the market from getting out of control in the short term. Controlling the disorderly entry of funds into real estate is the key.

Another insider believes that "according to the current policy environment, in order to quickly withdraw funds, there may be a one-time payment or a high proportion of down payment customers in the market in March."

The central economic work conference at the end of last year and the recent government work report once again reiterated the orientation of "housing without speculation". Moreover, many places have carried out special inspections on the implementation and self-examination of real estate policies of commercial banks within their jurisdiction, and timely adopted regulatory measures.

65438129 October, the notice issued by Shanghai Banking Insurance Regulatory Bureau showed that commercial banks within its jurisdiction were required to conduct a comprehensive self-examination of consumer loans, business loans and personal housing loans issued since June 2020, and submit a self-examination and rectification report to Shanghai Banking Insurance Regulatory Bureau before February 28, 20021year.

The next day, the Beijing Banking Insurance Regulatory Bureau made a similar statement and asked the bank to immediately rectify the problems found and strengthen internal accountability.

It is worth mentioning that last year, Taiyuan Branch of China Construction Bank was fined 350,000 yuan for violating prudent operating rules and lending to individuals who bought houses with uncapped main structures, and two tickets of 300,000 yuan were directed at Taiyuan Branch of CITIC Bank and Taiyuan Branch of China Merchants Bank, respectively, for "issuing personal housing mortgage loans without online contracts and uncapped properties".

Author Zhou Tu Tu Editor Xie Yi

This article is a special topic of # Phoenix Weekly Finance and Real Estate Channel #

Unauthorized copying is not allowed.