Has the bank agreed? "No, no, no, no", lowering the interest rate of existing housing loans Commercial | Bank | Housing Loan Interest Rate
On the 21st, it was reported on the Changzhou Daily WeChat official account that, at present, the city's commercial banks have not issued unified guidance documents and specific rules, but some lenders have communicated with the lending banks about the interest rate of existing housing loans, and some banks have agreed to reduce the interest rate of existing housing loans.
The reporter from Zhongxin Jingwei noticed that the article has been revised on the 21st, and the sentence "Some banks have agreed to lower the interest rates of existing housing loans" has been deleted.
On the morning of the 21st, Zhongxin Jingwei consulted the personal loan centers of some branches of the Industrial and Rural Construction Bank of China in Changzhou, Jiangsu Province as a customer. The customer managers all stated that they have not yet received any notification.
"No, no, no, no." When asked by reporters if it was possible to negotiate a reduction in the interest rate of existing housing loans, a customer manager at the Agricultural Bank of China Personal Loan Center said that there was no news or notification.
The customer manager of the Housing Loan Center of China Construction Bank stated that they have not yet received any documents or notifications from the head office and provincial branches. They can follow the announcements or customer service of China Construction Bank's mobile banking.
"There is no news yet," said the customer manager of Industrial and Commercial Bank of China. When asked if there would be any related announcements recently, the account manager said he didn't know if they would be released.
The customer manager of Bank of China replied that they have not received any relevant documents or notifications. The reporter further inquired if there would be any relevant announcement recently, and the account manager said, "I haven't heard of it yet."
A staff member of Jiangnan Rural Commercial Bank stated that the current policy of reducing the interest rate of existing housing loans only supports commercial to combined loans, which is a policy that has been in place before. The direct reduction of interest rates for commercial to combined loans has not been notified yet, and all formal notices will prevail.
Zhongxin Jingwei has noticed that the Changzhou Housing Provident Fund Management Center issued the "Changzhou Commercial Personal Housing Loans to Personal Housing Provident Fund Loans Management Measures" in January this year.
According to the regulations, there are two processing methods for commercial to public loans: the first is the "loan repayment" method. Borrowers who have already applied for commercial loans can apply for commercial to public loans from the center. With the center's approval, the borrower can apply for guarantee procedures recognized by the center. After the mortgage procedures for commercial to public loans are completed, the center will issue commercial to public loans to the corresponding repayment account to repay the commercial loan. The second is the "repayment before loan" approach. Borrowers who have already applied for commercial loans can apply for a commercial to public loan from the center. After obtaining the center's consent and completing the guarantee procedures recognized by the center, they can repay the commercial loan in full. After the mortgage procedures for the commercial to public loan are completed, the center will then issue the commercial to public loan to the borrower's account.
Recently, Zou Lan, Director of the Monetary Policy Department of the People's Bank of China, stated that "in accordance with the principles of marketization and rule of law, we support and encourage commercial banks and borrowers to independently negotiate changes to contract agreements, or to issue new loans to replace existing loans.".
At present, various banks have not yet introduced corresponding policies. Several bank customer service representatives have expressed that they have paid attention to news reports on the adjustment of interest rates for existing housing loans. However, they have not yet received formal notification from relevant departments. After the policy is clearly implemented, relevant requirements will be strictly implemented.
Yan Yuejin, Research Director of E-House Research Institute, pointed out to China News Service that banks should establish clear standards, such as whether to downgrade entirely or selectively, and at least clarify rules, especially for customers with high repayment pressure or credit scores, and implement differentiated policies. For homebuyers, the reduction of mortgage interest rates is related to monthly payments and also to their financial situation. We can closely monitor the trend of such policies.