Bank of China to raise interest rate on stock house loan

In principle, suspend the issuance of the third and above housing loan industry insiders believe that may trigger the speculators to sell the property Bank of China 23rd announced the real estate credit management measures, BOC will be in accordance with the contract agreement, in the interest rate adjustment method expires, will stock the first set, two sets, The floating rate of three sets and above is adjusted to 0.85 times times, 1.1 times times and 1.2 times times of the benchmark rate respectively.　　In this respect, the industry said, the bank's first increase in mortgage interest rates, mortgage buyers will increase interest payments, it is likely to trigger speculative and investment property buyers sell their hands. The implementation of differentiated housing policy Bank said that the bank strictly implement dynamic, differentiated personal housing loan policy, will actively support residents to buy a set of building area of 90 square meters under the first set of housing and security housing, Continue to give the people's Bank of the same grade benchmark rate of 0.85 times times interest rate concessions to meet the basic housing needs of residents.　　For the purchase of the first set of home and set the building area of 90 square meters above the family, the loan down payment ratio is not less than 30%. For households that have used a loan to buy a home and apply for a loan to buy a second home, the down payment is not less than 50% and the interest rate is no less than 1.1 times times the benchmark rate.　　Strict restrictions on the various names of speculation and speculative housing, in principle, suspend the issuance of the third set of residential loans.　　Non-local residents who are unable to provide proof of local tax or social insurance payments for more than 1 years are temporarily suspended from buying housing loans.　　BOC said that the focus on supporting the relatively developed economy, the relative stability of house prices, to live demand for the city's high-quality real estate development projects, and strongly support the low-cost, small and medium-sized flat type of ordinary commercial housing development and construction, and actively support the inclusion of local government construction projects focused on housing projects. For the recent development of overheating, with external investment demand, housing prices rise too fast areas, strict control of loans.　　For the existence of land idle, fry, cover plate reluctant, hoarding houses, driving up prices, false personal loans and other acts of real estate development enterprises, do not issue new loans. Strict implementation of real estate project capital requirements, improve access standards, credit conditions and loan collateral standards, new loans to be under construction as collateral. Dynamic adjustment of loan ratio, the total amount of loans should not exceed 50% of the construction work.　　Strict loan closed management to prevent borrowers from misappropriation of funds.　　Buyers will increase the burden of the Bank of the relevant officials said that the bank's mortgage rate adjustment will be strictly in accordance with the contract, if the signing of the contract clearly agreed to the rate of implementation of the loan interest rate of 0.7 times times, then such contracts are not in the list of adjustments. As a result of the adjustment of the mortgage policy, in early 2009, the Bank of China said that the first set of housing loans issued before October 27, 2008 (including), such as the rate of 0.85 times times the benchmark rate of implementation, the borrower has no bad repayment record during the repayment period, and the date of the adjustment is not overdue,　　The borrower can apply for the interest rate concession business from January 9, 2009, that is, the mortgage rate can hit "70 percent". The relevant head of BOC saidLast year, in accordance with the wishes of mortgage customers, BOC and some of the stock of mortgage customers signed a supplementary agreement, the preferential adjustment of some customers to the benchmark rate of 70 percent implementation, when the contract is valid for 2 years, 2 years after the bank will implement a new contract text. "That is, when the new contract text is renewed, Bank of China will adjust the 70 percent discount rate of some first suite to 85 percent to perform."　　"There is a bank professionals to calculate, 1 million yuan personal housing loans, in accordance with 20% down payment, loan period of 30, after the interest rate adjusted to 0.85 times times the base rate, the total amount of interest paid will increase by more than 150,000 yuan, the monthly customers will spend 425 yuan." Yang Hongxu, Director of the Comprehensive Research Department of Shanghai Institute of Yi Ju, said BOC would cancel the 70 percent discount on mortgage interest rates to the benefit of homebuyers.　　The increase of interest rate will undoubtedly increase the burden of customers ' purchase, but it is helpful to realize the aim of bank credit risk control, and correspondingly thickening the bank profit space. Zhongyuan Real Estate Research reports that BOC's first mention of the increase in the previous purchase of the property, will make the former home buyers have been greatly affected, immediately make a lot of former speculators selling houses.　　If the banks follow suit, this will lead to Beijing in May second-hand housing housing may increase more than 20%, the Sell-off will be obvious, and turnover will be reduced by 50%, the price is expected to fall by 30% this year. A bank industry personage said, BOC takes the lead to adjust the stock mortgage preferential, this will have the big influence to the market. In particular, the small and medium-sized banks to make housing adjustment measures to produce a "model effect." If banks raise their stock of mortgage concessions on a large scale, or will trigger an early repayment surge, customers will spend their spare funds to repay the bank's mortgages.