A survey of second-hand housing loans in Wuhan

Recently, many places across the country housing loan tension, including Wuhan, Zhengzhou, Guangzhou, including a number of cities spread “second-hand housing stop loan” news. The 21st century economic report reporter learned from many interviews that although there are heated discussions about “stopping lending” on the Internet, there is no official document issued by the bank in Wuhan, or the official statement of “stopping lending” on second-hand housing.

However, it is a fact that the lending speed of second-hand housing is slower and the approval is more strict. A number of agencies in Wuhan disclosed to reporters that the lending cycle of banks has been extended from 2-3 months to at least 4-6 months, and banks will “selectively lend” second-hand houses, and houses over 20 years old are generally “dissuaded” by banks. Customers who can provide detailed running water, pay a high amount of five insurances and one fund, work in central enterprises and state-owned enterprises, have financing funds in corresponding banks or can accept interest rate rise are more likely to get loan support.

A staff member of Wuhan Branch of a state-owned bank disclosed that the amount of housing loan is really tight now, and there is relevant temporary control. The new housing loan is OK, and the second-hand housing loan is strictly controlled, so the bank can’t give buyers an accurate lending time.

Selective lending by banks

According to the feedback from many agencies, at the end of May, the second-hand housing agency felt the tightening of bank credit line. An intermediary said, “in the past, we only felt the limit was tight until the fourth quarter. At the end of May this year, we received news from the bank. The bank moved very quickly and did not give any transitional period.”

A second-hand housing loan form of banks in Wuhan circulated on the Internet shows that bank of China, industrial and Commercial Bank of China, Agricultural Bank of China and Bank of communications have stopped lending. According to the reporter’s investigation, Wuhan’s second-hand housing loans have not been stopped across the board. Most banks use the saying of “queuing up”.

“Our bank didn’t stop lending, it just lined up to lend.” Wuhan Branch of a state-owned bank revealed that there will be a quota in the first two or three days of the month. If there is a quota, loans will be arranged according to the policy. The queuing time is not good, and there is no clear guarantee with customers. A staff member in charge of personal loan in Qingdao Road sub branch of China Merchants Bank said that the second-hand housing business loan cycle is now half a year, and the cycle of provident fund loan or mixed loan is longer.

“The number of cases accepted every day has decreased, which is equivalent to the number limit.” According to the person in charge of a large intermediary agency in Wuhan, each bank has multiple branches to connect the second-hand housing business in different regions. The bank will still accept the second-hand housing business and accept it in the order of filing. However, due to the reduction of daily average number of accepted loans, the lending cycle has been extended to at least 4-6 months.

“However, there are some houses that will be selectively rejected by banks.” Wuhan Qingshan District, a second-hand housing agency in charge of Liu Min (pseudonym) told reporters that Qingshan area more than 20 years old, no elevator housing will be more, that is often said “old broken small”, these housing loans are generally rejected by the bank.

The person in charge said that at present, the threshold for many banks to accept second-hand housing loans is at least 500000 yuan. Some houses over 20 years old are not large in size and the loans are less than 500000 yuan. Banks are unwilling to accept such orders.

Even if the housing age is not more than 20 years, banks will have stricter requirements on the qualification of loan customers. According to an intermediary in Wuchang fruit lake area, if the customers have good flow condition, high payment amount of five insurances and one fund, work in central enterprises and state-owned enterprises, have financial funds in the corresponding banks, or can accept the floating interest rate, they are more likely to get loan support.