Follow! Shanghai introduces housing provident fund policies to support urban renewal
The Municipal Commission of Housing and Urban Rural Development introduced that in order to support the deepening of urban organic renewal and further leverage the institutional role of housing provident fund in improving the quality of residence and living conditions of residents, the 69th plenary session of the Municipal Commission of Housing and Urban Rural Development approved the Notice on Adjusting the Maximum Loan Term for Purchasing Existing Housing with Housing Provident Fund in this City and the Notice on Relevant Policies for Supporting Urban Renewal with Housing Provident Fund in this City.
The Notice on Adjusting the Longest Loan Term for Housing Provident Fund Purchase of Existing Housing in this City clearly stipulates that the longest loan term for housing provident fund purchase of existing housing between 6 and 35 years of housing age by borrowers shall be adjusted. Among them, for the purchased stock housing with a housing age between 6 and 20 years, the maximum loan term for housing provident fund has been adjusted from the original calculation rule of not exceeding "35 minus housing age" to not exceeding 30 years; If the purchased stock housing has a housing age between 20 and 35 years, the maximum loan term for housing provident fund will be adjusted from the original no more than 15 years to no more than 50 years of reduced housing age.
The Notice on Policies Related to Housing Provident Fund Support for Urban Renewal in this City specifies that the implementation of housing provident fund support policies for old housing renovation projects included in the scope of urban renewal in this city mainly includes three aspects:
One is to support the withdrawal of housing provident fund after purchase, renovation, and renovation. Owners who purchase renovated houses with transaction conditions can withdraw housing provident fund to pay the actual purchase price.
The second is to support the extraction of housing provident fund during the project construction period. Owners who rent transitional housing during the project construction period can withdraw the housing provident fund to pay the rent they bear after deducting the transitional fee subsidy.
The third is to expand the scope of applicants for extraction. The scope of applicants for extraction includes the owner themselves, their spouse, parents, and children. If the applicant is a borrower, spouse, or co borrower of the housing provident fund loan in this city, they should meet the current condition of no overdue loan.
This policy adjustment will be officially implemented from October 7, 2023.
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Information: Municipal Housing and Construction Commission
*Reprinted from official WeChat account released by Pudong