Summary: Today, the increase in down payment for commercial housing of more than 90 square meters has greatly increased the financial pressure on ordinary
homebuyers . Where to buy after the
renovation of the money to find it? In fact, fitting models can also be
solved by way of loans, and with the continuous innovation in the field of personal loans, now you can find a number of channels to obtain low-interest of the decoration section. With the introduction of the six country rules, some home loans with a minimum down payment of 20% have become obsolete. Recently, the details of the mortgages of major banks in Shanghai have been introduced. Through the express provisions of the implementation of the recommendations of the ministries and commissions, the minimum mortgage down payment for commercial houses over 90 square meters has been increased to over 30%. According to the state of the housing, the total price, and lots, etc., the down payment is also paid. It will be different, the down payment ratio of some houses will increase to more than 40%. The house prices that have already been inflated have now been increased and the down payment has increased. The financial pressure on ordinary buyers has greatly increased. “Even if you buy it in Central, the total price of the house is about 1 million yuan. The down payment needs at least 300,000 yuan. But we have to work for three or four years and we must use our parents’ savings. Even so, where are the decoration funds?†White-collar hairy hair with emotion. In fact, the decoration can also be solved by means of loans, and with the continuous innovation in the area of ​​personal loans, it is now possible to find some channels to obtain low-interest decoration funds. What is the interest rate of the loan reserve fund with the accumulation fund loan? This is just a good wish in the past. Fortunately, many new measures have been introduced in the Provident Fund Center. The expansion into the area of ​​renovation funds is one of the key steps. Borrowers eligible for provident fund borrowing, when applying for housing loans for housing purchase, they only need to provide relevant materials such as home decoration
contracts and decoration down payment invoices, and can apply to the Shanghai Housing Real Estate Guarantee Company for a personal housing accumulation fund loan. The maximum amount of loans is 300,000 yuan, which is lower than 70% of the renovation
projects . The
construction area per square meter is up to 1,000 yuan. The loan amount plus the balance of the housing loan does not exceed the prescribed number of houses (70% or 80%). This is undoubtedly a good news for ordinary people. On April 29 of this year, the benchmark interest rate for one-year loans of financial institutions was raised by 0.27 percentage points, and the loans for more than five years (inclusive) were increased from the current 6.12% to 6.39%. On the other hand, the increase in the provident fund was only 0.18%, and the loan for loans over five years (inclusive) was adjusted from the current 4.41% to 4.59%, and the gap between the two increased to 1.8 percentage points. According to the latest proposal put forward by Wen Linfeng, Director of the Policy Research Office of the Ministry of Construction, the interest rate of low-interest loans on provident funds can be appropriately reduced to 2%-3% to truly reflect the advantages of policy-based finance. This means that the future The interest rate gap between provident fund loans and commercial loans may also widen. With such a large gap, the bigger the amount of loans, the better, but according to the latest regulations in the second half of last year, the criteria for determining the amount of provident fund loans is that loaners with more than 5,000 yuan in ordinary provident funds can directly borrow 200,000 yuan and loans less than 5,000 yuan. The loan amount of a person is calculated as 40 times the balance of the deposit (the highest is not more than 200,000 yuan). Compared to huge loans, some of them are too small. Applying the provident fund to the decoration is a good way to expand the proportion of the provident fund. An
expert on personal loans from the Minsheng Bank Shanghai Branch said that the bank has obtained qualifications for individual housing accumulation fund loans. In this way, the borrower can get more provident fund loans, and its loan structure has changed, that is, the proportion of provident fund loans in the total loans increased, the proportion of commercial loans decreased, and because of the low interest rate of provident fund loans, the adoption of personal housing Provident fund loans can greatly reduce the cost of loans. For example, Miss Chen purchased a house in 2006. She purchased a house of 150 square meters and a total price of 2 million yuan, including a total renovation price of 250,000 yuan. She applied for a housing portfolio loan (supply fund loan of 300,000 yuan, a commercial loan of 1 million yuan, a period of 20 years. Year) Since Ms. Chen purchased a house with a decoration, she applied to Minsheng Bank for a personal housing accumulation fund (installation) loan of RMB 150,000 (calculated on the basis of a loan of RMB 1,000 per square meter and a maximum housing fund of 150 square meters. (Installation) loans for loans to repair 150,000 yuan.), The loan period is also 20 years. In this way, the original 1 million yuan commercial loan will be compressed to 850,000 yuan, and the 150,000 yuan provident fund loan will replace the commercial loan for 20 years, saving interest expenses of 232.264 million yuan. It is reported that at present, apart from Minsheng Bank, Shanghai Construction Bank also has the qualifications for the hosting of the provident fund renovation loan. The provident fund renovation loan can only be carried out in the loan line of the home loan. If the customer has already borrowed, as long as there is a balance in the housing accumulation fund and a decoration contract is provided, an application for the accumulation fund loan can also be filed. Comprehensive credit grants enjoy lower interest rates to obtain decoration funds. The more traditional way is to apply for personal home improvement loans. In the case of CCB Shanghai Branch, the borrower can apply for the shortest term of six months, with a maximum period of not more than 5 years (including 5 years), as long as the bank can provide pledges, mortgages, and eligible third-party natural person guarantees approved by the bank. For decoration loans, the starting point of the loan is RMB 5,000 (including 5,000 yuan), and the maximum amount cannot exceed RMB 150,000 (including 150,000 yuan). Since it is categorized as personal consumption loans, the interest rate of such loans is basically executed at the benchmark interest rate. And through complex mortgages, pledges, and guarantees, it takes a lot of work and time from application to lending. However, if you use the bank's “one loan pass†to get a renovation loan, the situation will be completely different. According to relevant persons of the bank, “One Loan Link†is a personal credit product or product portfolio that is used to provide credits and multiple rounds of recycling to high-quality individual customers on the basis of personal
property mortgages. As long as you apply for “a credit pass,†you can get up to 80% of your credit line, and within this limit, if your home loan is not enough, or you already have early repayment, you can easily handle a maximum of RMB 150,000. Yuan's decoration section. The procedures for applying for a bid are convenient and the funds are promptly put in place, and the maximum period of the loan is extended from the past 5 years to 10 years. The biggest advantage of this operation is that you can enjoy a 10% discount on the maximum interest rate, which in the past was the only way to enjoy a home loan. The threshold of this product is not high, and newcomers can apply for the business if they have no bad credit history, have sufficient repayment ability for income stability, and have qualified collateral. Renovation installment payment can also save money Another problem that Xiao Han, who has already
bought a house , faces is that he has used a ceiling of 80% when he borrows because the initial down payment pressure is too heavy, so the decoration money has no place to loan. However, there are no funds on hand, and only monthly salary can be obtained. So how to solve the decoration? Credit cards are an important way to help Xiao Han. Since May of this year, China Merchants Bank Credit Card Center has joined hands with Bai An Ju, the largest
building materials supermarket in
China , and launched the financial innovation product “
Home Improvement †with a maximum installment of 150,000 yuan and 6 months of interest-free installment. The greatest function of this product is to increase the credit card installment amount of cardholders' purchase of home improvement and building materials at designated merchants (Bai Habitat). According to Wei Zhe, Assistant General Manager of China Merchants Bank Credit Card Center, “Home Improvement†is divided into two categories: large-scale home improvement and general retail, and large-scale home improvement refers to customers contracted with Baian Habitat Decoration Center, who can pay
floor installation fees, labor costs, etc. in installments. According to the cardholder’s credit status, the amount can range from 10,000 yuan to 150,000 yuan, and up to 24 months in installments. In addition to enjoying the original installment period, a large-scale home improvement installment of “Home Improvement†service can enjoy a 6-month deferred loan repayment period, enjoy zero down payment and zero interest rate for the first 6 months, and begin in the 7th month. Pay the first payment. "Special POS machines and
systems are used for swiping cards
for the business. Customers who
choose this service at B&Q store can swipe their cards on special POS machines. For customers who have good credit and practical needs, we can give special credits above their credit limit. Credit lines for this business, the amount can be given to the customer's original amount of 1.5 to 2 times." China Merchants Bank credit card center responsible person said. Ordinary retail customers who purchase goods at B&Q can also enjoy instalments of 3,000 to 50,000 yuan, but they do not enjoy deferred payment. Of course, there is no free lunch in the world. Although "interest-free" is a major advantage of credit card installments, the fee is there. According to the reporter’s understanding, if the decoration payment is fully paid within the first month, no fee will be charged. If the payment is made in installments, the fee for the 12 installment repayments is 3.5%. The fee for 24 installment repayments is 8%. The equivalent cost of funds used is still more cost-effective than ordinary renovation loans. If you use another way to get a decoration, you need to carefully measure the borrower. At present, China Merchants Bank and Shanghai Bank have introduced a business called “Grace Mortgageâ€, which means that within the first two years of a housing loan, the loan principal will not be returned for the time being, but only the interest will be returned. The funds accumulated under it were partially repaid after 1 year. The biggest feature of this kind of business is that after the personal housing loan is issued, the borrower only needs to pay interest every month for a certain period of time agreed in the contract, and the loan principal will not be returned. After the grace period is over, the equal principal or equal principal and interest shall be paid in accordance with the contract. But in this way, the decoration money was obtained, and since his principal has not changed within 12 months of the first year, there will be a lot more interest on the expenses. The bank staff helped the reporter to calculate roughly the sum of money. The mortgage of RMB 500,000 and 20 years will be used for repayment of equal principal amount. If the “2-year grace period mortgage†is used for 2 years, it can be the first two years. Temporarily reduce the principal amount of 50,000 yuan for renovation, but the interest paid in the previous two years or more reached more than 3,000 yuan.
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