Xiamen official announcement..., Changsha official announcement, Chengdu official announcement, Chongqing official announcement, "recognize a house but not a loan" big chain! Anhui Official Announcement
On September 1st, the Department of Housing and Urban Rural Development of Anhui Province, in conjunction with the Department of Natural Resources of Anhui Province, the Anhui Branch of the People's Bank of China, and the Anhui Regulatory Bureau of the State Administration for Financial Supervision, jointly issued a notice to optimize the standards for determining the number of housing units in personal housing loans starting from today. This also means that Anhui has officially announced the implementation of "recognizing houses but not loans".
The Notice clearly states that when applying for a loan to purchase commercial housing, if a family member does not have a complete set of housing in the city or county where the house is purchased, regardless of whether the loan has been used to purchase housing, the first set of housing credit policy shall be implemented.
The Notice points out that the number of complete housing units owned by family members in the local area shall be checked by the real estate registration department of the city or county based on the application or authorization of the resident family, and the query results shall be issued. If it is necessary to inquire about the number of complete sets of housing units for online contract filing, the housing and urban-rural development department of the city or county shall conduct an inquiry based on the application or authorization of the resident family, and issue the inquiry result.
According to the notification requirements, this policy is included as a policy tool in the "One City, One Policy" policy toolbox.
It is worth mentioning that after the implementation of the policy of "recognizing a house but not a loan", when purchasing a house, the loan policy can be implemented based on the first property, and the down payment ratio and interest rate can be enjoyed.
Especially for families with improved housing, the policy of "recognizing a house but not a loan" will bring direct benefits, as the interest rate on the first home loan can be reduced, monthly payments can be reduced, the ability to pay for a house can be improved, and the burden of buying a house can be reduced.
Notice on Implementing the Standards for Determining the Number of Housing Units in Personal Housing Loans Optimized by the National Three Departments
Housing and Urban Rural Development Bureaus, Natural Resources and Planning Bureaus of various cities, branches of the People's Bank of China, regulatory branches of the State Administration of Financial Regulation, Housing Security and Real Estate Management Bureau of Hefei City, Housing Management Bureau of Fuyang City, Housing Development Center of Bozhou City, and Housing Management Service Center of Suzhou City:
In order to implement the requirements of the Notice on Optimizing the Standards for Determining the Number of Housing Units in Personal Housing Loans issued by the Ministry of Housing and Urban Rural Development, the People's Bank of China, and the State Administration of Financial Supervision, and to adhere to the positioning that houses are for living, not for speculation, and better meet the rigid and improved housing needs of residents, the Provincial Department of Housing and Urban Rural Development, together with the Provincial Department of Natural Resources, the Anhui Branch of the People's Bank of China, and the Anhui Regulatory Bureau of the State Administration of Financial Supervision, hereby issues the following notice on optimizing the standards for determining the number of housing units in personal housing loans:
1、 When a resident family applies for a loan to purchase commercial housing, if their family members do not have a complete set of housing in the city or county where the house is purchased, regardless of whether they have used the loan to purchase housing, the first set of housing credit policy shall be implemented.
2、 The number of complete housing units owned by family members in the local area shall be checked by the real estate registration department of the city or county based on the application or authorization of the resident family, and the query results shall be issued. If it is necessary to inquire about the number of complete sets of housing units for online contract filing, the housing and urban-rural development department of the city or county shall conduct an inquiry based on the application or authorization of the resident family, and issue the inquiry result.
3、 This policy is included as a policy tool in the "One City, One Policy" policy toolbox.
Each region should strengthen policy promotion and interpretation, and timely report the implementation status and problems encountered to the Office of the Provincial Working Group for Promoting the Healthy Development of the Real Estate Industry.
Office of the Anhui Province Real Estate Industry Health Development Promotion Working Group
Anhui Provincial Department of Housing and Urban Rural Development
September 1, 2023
Chengdu and Chongqing announce that they will recognize houses but not loans
Chengdu
On September 1st, according to Chengdu, four departments including the Housing and Urban Rural Development Bureau jointly issued a notice on optimizing the recognition standards for housing units in personal housing loans in Chengdu.
In order to implement the decisions and deployments of the Central Committee of the Communist Party of China and the State Council, adhere to the positioning that houses are for living, not for speculation, and make good use of policy toolboxes according to urban policies to better meet the rigid and improved housing needs of residents, starting from September 1, when a resident family applies for a loan to purchase commercial housing in Chengdu, regardless of whether they have used the loan to purchase housing, banks and financial institutions will implement housing credit policies for the first set of housing.
Chongqing
On September 1st, the Office of the Leading Group for Promoting Stable and Healthy Development of the Real Estate Market in Chongqing issued a notice on further supporting the demand for rigid and improved housing.
The notice states that the individual income tax policy to support residents in purchasing housing will continue to be implemented. From January 1, 2024 to December 31, 2025, taxpayers who sell their own homes and purchase new homes in the market within one year after the sale of their current homes will be eligible for a tax refund on the personal income tax already paid on the sale of their current homes.
In addition, optimize the management of new housing repurchase transactions. The newly purchased housing within the central urban area will be adjusted from "requiring a real estate ownership certificate for at least 2 years before being listed for trading" to "obtaining a housing sales contract filing certificate for at least 2 years and obtaining a real estate ownership certificate before being listed for trading".
The notice also mentioned the implementation of a housing subsidy policy during the city level autumn trade fair. During the 2023 Municipal Autumn Fair, those who purchase houses in the central urban area will be given a certain amount of housing subsidy. The housing subsidy policy is formulated and implemented by each district government based on the actual situation.
In terms of optimizing the criteria for determining the number of individual housing units, when a household applies for a loan to purchase commercial housing, regardless of whether they have used the loan to purchase housing, banking and financial institutions will implement the housing credit policy for the first housing unit if their family members do not have a complete set of housing under the local name.
In addition, the Notice mentions the need to adjust and optimize differentiated housing credit policies. For residential families who take out loans to purchase commercial housing, the minimum down payment ratio for commercial personal housing loans for their first home is not less than 20%, and the minimum down payment ratio for commercial personal housing loans for their second home is not less than 30%. The lower limit of the interest rate policy for commercial personal housing loans for the first set of housing shall be implemented in accordance with current regulations, and the lower limit of the interest rate policy for commercial personal housing loans for the second set of housing shall be adjusted to not less than the market quoted interest rate for the corresponding term loan plus 20 basis points.
For families who own two or more houses and have already paid off the corresponding housing loan, and apply for a loan to purchase a house, banking and financial institutions should carefully grasp and determine the down payment ratio and loan interest rate level based on factors such as the borrower's repayment ability and credit status, but not lower than the minimum down payment ratio and loan interest rate level for a second house.
This notice shall come into effect from the date of issuance. In case of any inconsistency between the original relevant provisions and this notice, this notice shall prevail.
Changsha official announcement: recognize a house but not a loan
On September 1st, the Housing and Urban Rural Development Bureau of Changsha issued a notice on optimizing the standards for determining the number of housing units in personal housing loans, clarifying that Changsha will officially implement the policy of "recognizing houses but not loans" from September 1st.
Family members who have no property for a long time will be subject to credit policies based on their first home
It is reported that according to the notice, when a resident family applies for a loan to purchase commercial housing, if their family members do not have a complete set of housing under the name of Changsha City, regardless of whether they have used the loan to purchase housing, banking and financial institutions will implement the housing credit policy for the first set of housing.
The number of household housing units is provided by the Housing and Urban Rural Development Bureau of Changsha City based on the application or authorization of resident families, and the inquiry results or certification are issued. This policy is included in the "One City, One Policy" toolbox of Changsha City and will be implemented from September 1st.
In fact, as early as August this year, the Ministry of Housing and Urban Rural Development, the People's Bank of China, and the State Administration of Financial Supervision jointly issued the "Notice on Optimizing the Standards for Determining the Number of Housing Units in Personal Housing Loans", promoting the implementation of the policy measures of "recognizing a house without recognizing a loan" for purchasing the first home loan. As of today, cities such as Guangzhou, Zhongshan, and Shenzhen have all officially implemented it.
The group with the most favorable policies are homebuyers with a demand for replacement
What is "recognizing a house but not a loan"? Industry insiders say that if a homebuyer has a house in Changsha but is under the name of a family member, they can apply for a loan according to the first home policy. Currently, the down payment only needs to be 30%, compared to 40% before, and the loan interest rate may also decrease from 4.9% to 4.1%.
A person in charge of a real estate company in Changsha revealed that the city has also implemented the policy of "recognizing both houses and loans". However, since 2022, multiple banks in Changsha have optimized the policy of "recognizing both houses and loans". By settling the mortgage of a family's house or renting the only house under their name for a long time, they can enjoy the interest rate of the first home loan.
"The group with the most favorable policy is homebuyers who have a demand for replacement. Regardless of whether homebuyers have a loan record or not, as long as they prove that they do not have a property under their name, they can apply for a first home loan according to the standards." Industry insiders pointed out that after the adjustment in Changsha, it means that the threshold for restrictions has been further lowered, which is actually equivalent to relaxing some of the purchase restrictions, which is conducive to releasing the demand for homebuyers.
According to Wang Xiaoqiang, Chief Analyst of Zhuge Data Research Center, "recognizing a house but not a loan" is essentially a reduction in the recognition criteria for the first home, mainly benefiting two types of homebuyers. One is those who have a loan house in their permanent residence and are preparing to sell it for a new home, and the other is those who have a mortgage record in other cities outside their permanent residence and have no local property. After the implementation of the "recognizing a house but not a loan" policy, these two types of customers will calculate the mortgage interest rate for the first home when they purchase a house again.
Xiamen announces the implementation of the policy of recognizing houses but not loans
On September 1st, the Housing Security and Housing Management Bureau of Xiamen City announced the implementation of the "house recognition but not loan recognition" policy from now on When a resident family applies for a loan to purchase commercial housing, if their family members do not have a complete set of housing under the name of Xiamen City, regardless of whether they have used the loan to purchase housing, banking and financial institutions will implement housing credit policies for the first set of housing The Xiamen Natural Resources and Real Estate Ownership Archives Center provides the "Real Estate Registration Information Query - Registration Certificate" query service based on the application or authorization of residents' families regarding their housing situation.
[More news]
All first tier cities have implemented the policy of "recognizing houses but not loans"
Recently, many local officials have announced "recognizing houses but not loans" and adjusted real estate related policies.
On September 1st, just two days after Guangzhou and Shenzhen officially announced the policy of "recognizing houses but not loans", Beijing and Shanghai also announced the implementation of this policy measure on the same day.
On September 1st, both Beijing and Shanghai officially announced the implementation of the policy of "housing recognition without loan recognition". At this point, all four first tier cities have implemented this policy. Chengdu and Chongqing also announced the policy on September 1st. Industry analysis suggests that this means that the bottom of the national real estate market may have been established.
