Fuzhou Implements “Acknowledge the House but Not the Loan” Policy to Optimize Housing Loan Standards
Fuzhou, September 13 – In a joint effort, the Fuzhou Municipal Housing Security and Real Estate Administration Bureau, the Fujian Branch of the People’s Bank of China, and the Fujian Supervision Bureau of the State Financial Supervision and Administration Bureau have released a notice on optimizing the standards for determining the number of housing units in personal housing loans. This announcement states that Fuzhou City will implement the “acknowledge the house but not the loan” policy from September 14, 2023.
The objective behind this new policy is to better cater to the rigid and improved housing needs of residents while aligning with the requirements set forth in the “Notice of the Ministry of Housing and Urban-Rural Development and the State Administration of Financial Supervision of the People’s Bank of China on Optimizing the Determination Standards for the Number of Housing Units in Personal Housing Loans.”
According to the notice, the following standards will be applied to determine the number of housing units for personal housing loans in Fuzhou:
1. If resident families, including borrowers, spouses, and minor children, apply for loans to purchase commercial housing in the city and do not possess a complete set of housing in their local name, regardless of whether they have previously used a loan for housing purchase, banking financial institutions will adhere to the housing loan policy based on the first home.
2. The real estate registration department will offer inquiry services to determine family housing status and issue inquiry results based on the application or authorization of the resident family.
This latest policy update aims to regulate the housing loan process and provide residents with better access to funding options when purchasing commercial properties. The implementation of the “acknowledge the house but not the loan” policy is expected to promote greater transparency and fairness in Fuzhou’s real estate sector.
(Source: Fuzhou Daily)
Article source: Fuzhou Daily
Original title: Fuzhou releases new real estate policy! From September 14th, “acknowledge the house but not the loan” will be implemented!
Solemnly declare:
Oriental Fortune publishes this content to disseminate more information. It has nothing to do with the position of this site and does not constitute investment advice. Operate accordingly at your own risk.