BOC cancels 70 percent discount on first mortgage

To cancel the first mortgage 70 percent interest rate, experts said it may affect the property market turnover. Wang/photo (map) Bank of China Guangzhou Majority of the first set of mortgage interest rate has been adjusted to 85 percent, other major lines have not followed the New Express reporter Luo rate Zhang Yi intern Pengting Yesterday, there is news that the Chinese bank to cancel the mortgage rate of 70 percent discount. The reporter visited BoC Guangzhou Many branches, found that most of the BOC branch has indeed abolished the first set of mortgage interest rate of 70 percent discount, and to implement the 85 percent preferential policy, only a very small number of branches said that still can apply for the first set of mortgage rates of 70 percent discount.　　However, other major banks have not followed suit. Bank of BOC Mortgage tightening 70 percent interest rate is difficult to Guangzhou yesterday reporters interviewed a number of BOC Sub-branches said that the current first suite loan rate has not been able to enjoy 70 percent discount, but rose to 85 percent. At the same time, the lending period is also more than 1 months or longer.　　However, BOC Tianhe Branch said it had not received a clear document, the current first mortgage rates can still be applied in accordance with the 70 percent discount, and the lending time within half a month. The Bank of China's Guangdong branch yesterday sent a written document to the newspaper confirming the bank's interest rate on personal mortgages. According to the paper, in order to further implement the differentiated credit policy and optimize the loan structure, the Bank of China has recently adjusted the interest rate of individual housing loan appropriately, reduced the interest rate concession for individual housing loans, differentiated the loan use, differentiated the customer credit status and implemented differential pricing.　　Guangzhou, a part of the real estate agency to reporters, BOC has ceased to cooperate with the real estate intermediary, do not allow real estate agents on behalf of the mortgage, the individual if you want to loan words need to contact the bank directly.　　Other banks still have the first set of 70 percent discount correspondents who visited other banks yesterday and found that other banks in Guangzhou are still maintaining a 70 percent per cent discount on their first mortgage rates, except BOC. During the visit, the Personal Mortgage account manager generally gave the proposal for home loans as early as possible, because the policy may change at any time, and now the loan approval is very strict, etc. "Now there is a credit in the bank, and if this month's approval is over, it will be a month or more."　　A bank Loan Account manager said.　　Experts interpret the bank as a follower of the central government or intervention there are real estate experts said to raise the first set of mortgage rates against central support for the first home purchase spirit for BOC to raise the first set of mortgage rates, industry insiders believe that such a move is both sudden and unexpected, and the next move of other banks, will become the focus of attention. Han Xi, a researcher and real estate expert at Peking University's Center for Public Economic Research, said in an interview that the first time the central government issued a two-suite down payment limit was to curb speculative buying, but the bank's move to raise the first mortgage rate was a bit sudden, because it was the central bank's consistent spirit　　Bank of BOC to raise the first suite lending rate is clearly against this spirit. Li Wenjiang, chief analyst with Rich Brilliance, said that the original first-suite home loan 70 percent benefitsRate for banks does not have much profit margins, the increase in mortgage rates will undoubtedly enhance the bank's future earnings, but how the market reaction is still unknown. Analysis of the industry, this may be a move by BOC to test the market, and what the rest of the banks will do will have a direct impact on the smooth implementation of the bank's policy, and if other banks do not follow suit, it is estimated that the bank's policy is unlikely to continue to spread; It is estimated that the central authorities may intervene.　　Therefore, how other banks will follow up next, will undoubtedly become the focus of close attention of all parties. property market impact of the credit crunch will affect the market volume of New Express News line clear the first set of mortgage rates from 70 percent to 85 percent, the industry is expected to bring greater impact on the Guangzhou property market. Zhongyuan Real Estate Project general manager Huang said that it will be a signal of macro-control, said the housing market credit policy will be more and more stringent, "although the bank is currently only implementing this policy, but the future of other banks to follow the trend is also large, so will curb the one or two hand market turnover."　　He said the new deal has evolved from psychological impact to actual transaction impact. But there are also luxury plate developers said not to worry: "Now most of the real estate buyers in Guangzhou are two or three times buyers, this does not have much impact." Luxury buyers are more of a one-time payment, affected by this less. ”