High-income private lending chain survey: Some loans to 125% per annum

High-interest private lending to the real estate path survey reporter Dong Ying Beijing reported the real estate market regulation tightening policy "Pai lang Style" released, so that once the "money" of the size of developers have invariably started to "change" to be busy.　　On the other hand, because of the current stock market turmoil, the financial market investment risk increased, the bank deposit interest rate is not high factors, the ordinary investors holding spare cash investment channels appear particularly "scarce", therefore, the social idle funds accumulate more, nowhere to vent. This undoubtedly makes the high income folk loan "The Luck of the fortune".　　As a result, a social idle funds to absorb, through the private loan "intermediary" to the real estate industry, private manufacturing industry folk capital Path to establish, active in the "streets and lanes." Part of the loan is up to 125% February 9, the Lunar New Year When初七because, Ms. Liu hurried from Qingdao to Tianjin ran a back and forth.　　She told reporters that she had received a large number of loans on the ground through friends.　　Ms. Liu, who runs a loan "intermediary" in Qingdao, has been engaged in short-term borrowing by private borrowers since early 2007, and has had a steady network of contacts and "customer base" in recent years. "The other side is a real estate small boss, there is a project under construction anxious to wait for money, interest and conditions are no problem, the sum is released."　　Ms. Liu's face was excited. From last October to this year's Spring festival, loan clients from the real estate sector suddenly became more and more.　　Although the flood of real estate control information also let Ms Liu feel the real estate financing channels to narrow, but the real estate customers increase the obvious changes, or let her feel a little surprised. She told reporters that from the second half of 2008, the government's "bailout" policy to allow developers from bank loans is very easy, and in the second half of 2009 years, the property price Zisheng also make developers generally "not bad money." "Until the first half of 2010, real estate began to regulate after the real estate companies began to find us lenders, but at that time is not particularly much, interest is not high, monthly is generally 4 points to 5 points bar."　　Ms. Liu recalls to the reporter.　　But now the situation has changed. "It's not the same now, to find my clients 10 of them six or seven are real estate." Now, unsecured loans are generally 6 to 8 monthly, and some can even reach 10 points.　　Ms. Liu told reporters, because they mainly do short-term borrowings, so monthly to a little higher, the amount of 300,000 to 800,000 yuan, generally not more than 1 million.　　Generally speaking, monthly 7 points is 7% of total borrowings, if the simple interest rate monthly 7% is equal to 84% per annum, if it is compound interest (ie arbitrage), monthly 7% is equivalent to 12 times of annual interest (1+7%) minus 1, which is about 125% annually, well above current bank rates, with the profit imaginable. In this way, from the end of last year to this year, in the lucrative profit "temptation", such as Ms. Liu's private usury businessmen springing up. According to Ms. Liu,In Qingdao, there are three hundred or four hundred loan intermediaries like her.　　And the loan interest is basically consistent, generally have mortgage interest to lower some, probably in monthly 3 points, the monthly of unsecured loans in 6 to 8 points. According to Ms. Liu's introduction, in the borrower's developers, about 60% are under construction projects or to get the land but not enough money to start, and another 10% is because developers wait and see the market situation, the project postponed opening.　　Ms. Liu had almost no spare money on hand, and she had let go.　　According to the reporter understand, Beijing, Shanghai, Zhejiang and other economic conditions are good and real estate control of hot spots, private loan business has also been very mature. BEIJING, an investment guarantee company in charge of investment department Wang Yu told reporters that Beijing's private capital loans, lending mainly through the guarantee company, pawn companies, private lending companies.　　The guarantee company has its own capital, many are used for 3 months of short-term loans, the operation of the civil loan intermediary complex, but the interest rate is lower.　　The operation chain of high interest loans obviously, such financing loan intermediary has become the private capital and financing difficulties of the business enterprise docking. The reporter learned that the loan intermediary source of funds is mainly social idle funds. Ms. Liu told reporters, such as their lending intermediary generally have "offline." "Offline" will be the city community fragmented, specifically responsible for the organization to receive their own pieces of the idle funds.　　According to her, the current loan intermediary to the "investors" of the monthly are also 4 to 6 points.　　In fact, the way to take money from acquaintances, in Wenzhou, Zhejiang and other southeast cities have developed very mature. Recently, the news that Wenzhou nearly 800 billion of the social private capital, there are about 100 billion of private lending capital.　　And from this year before the Spring festival until now, these funds continue to supply the situation.　　However, according to China's general rules of civil law, higher than the bank loan interest rate of 4 times times is usury, the higher part will not be protected by law.　　According to the central bank's newly adjusted renminbi lending rate standard for financial institutions, the benchmark rate for short-term loans within 6 months is 5.6%, 4 times times 22.4%, but private lending, even if the monthly interest rate is as low as 5%, has an annual interest rate of up to 60%, well above the 4 times-fold standard prescribed by law.　　Therefore, in order to make funds to manoeuvre "legalization", according to the reporter understand, "first withholding, and then reduce the money" is now a popular way to evade borrowing. In other words, if the borrower borrows 500,000 yuan, loan period 3 months, the two sides agreed to monthly 6%, that is, the borrower must repay the interest of 90,000 yuan, the loan intermediary will be 90,000 yuan first deduction, actually only pay the borrower 410,000 yuan. However, when the borrower signed a loan contract with the intermediary, he still stated that the amount of the loan was 500,000 yuan, and then agreed on an interest rate within the statutory scope.　　In this way from the contract on the surface, lending behavior is also in line with national regulations. Not only that, the reporter learned that the loan intermediary and real estate developers to deal with the loan, there are alternative ways. Typically, the loan broker is operatingWill first sign a housing contract with the developer, the money into the developer account, and these properties as collateral.　　At the same time, the intermediary and the developer signed repurchase agreement, the loan expires after the developers will be mortgaged to buy back the property.　　In addition, the guarantee company, pawn companies and other financing intermediaries in the short-term funds to borrow, but also to circumvent the management provisions of the "Dharma." Wang Yu told reporters: "In fact, the guarantee company to use capital to lend, which is not allowed in the financing guarantee institutions, but the use of their own funds through the bank to entrust loans, this does not violate the rules."　　He told reporters that because banks do not do short-term loans under 6 months, so some guarantee companies through their familiar banks, the signing of a loan entrustment contract.　　The tightening up of bank credit as a direct "push-hand" on the rise of higher-income private loans is inextricably linked to the tightening of bank credit. At present, in the macro-background of real estate regulation and inflation control, domestic interest rate hike cycle has already entered.　　Since the end of last year, the central bank has raised interest rates three times in a row, showing policymakers ' determination to tighten credit against inflation.　　And at the moment when regulators rein in the credit line, the development loan of real estate companies has been the "key object" in the process of bank tightening.　　Recently, media reports, developers to apply for new development loans, must be repaid before the loan, otherwise the bank will not accept the loan application. Beijing a well-known developer related department head also to this reporter said, before the developer loans, the use of land, housing and other assets of mortgage loans, but also through the way of repeated mortgage assets to the mortgage assets of 1:1 credit line.　　Now, however, it is almost impossible to duplicate asset-backed mortgages for loans. And China Merchants Bank branch of the credit department director also confirmed the developers said, "Now 10 real estate projects reported to the head office approval, basically 90% can not pass, unless it is a special quality real estate projects, but the approval time is also longer." "In addition to the difficulty of the loan increase, the bank's lending rate floating also to" Mas dish. According to a Beijing state-owned bank insider told the reporter, due to the limits of credit limit this year, the current real estate development enterprises to apply for loans, interest rates will be floating.　　In general, the headquarters identified the quality of customer development loan interest rate to carry out the benchmark interest rate or float about 5%, while the branch level of key housing enterprises, the general state-owned enterprises and other applications for loans, interest rates floating not less than 10%, and general customers, mainly private enterprises are higher.　　And according to reporters understand, such as everbright, people's livelihood, deep development and other joint-stock banks, loan interest rate is more floating, some provinces and cities, branches of ordinary developers of the loan rate of up to 30% floating. Not only have bank lending rates gone up, but the real estate trust business, which stopped last year, has also raised the bar after restarting last year.　　According to the reporter understand, at present many large trust companies no longer do less than 30 million yuan projects, many of the small and medium-sized projects can not be financed through real estate trusts. Under the background of the bank credit crunch, the high interest private loan bankThe resulting regulatory problem has also become a new topic.