Home » Shanghai mortgage interest rates have risen, with the first set to 5% and the second set at 5.7%!The regulation and control continue to upgrade, and the donated housing is also included in the purchase restriction

Shanghai mortgage interest rates have risen, with the first set to 5% and the second set at 5.7%!The regulation and control continue to upgrade, and the donated housing is also included in the purchase restriction

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Original title: Burst! The bank confirmed: Shanghai mortgage interest rates have risen, with the first set to 5% and the second set at 5.7%!The regulation and control are continuously upgraded, and the donated housing is also included in the purchase restriction

Shanghai’s property market regulation and control policies have been upgraded again!

The second-hand housing price verification policy has just been implemented. On July 23, Shanghai’s property market control introduced two more policies: the mortgage interest rate was raised, the interest rate of the first home was adjusted to 5%, and the interest rate of the second home was adjusted to 5.7%; the donated housing was included in the purchase restriction policy, 5 During the year, the number of housing units owned by the donor is still recorded, and the recipient should comply with the national and Shanghai housing purchase restrictions.

Both new regulations will come into effect on July 24.

First home interest rate adjusted to 5%

The second suite is adjusted to 5.7%

“What we can do now is to ask the account manager to enter the information in the internal system and submit it tonight (July 23). Whether it is ultimately counted depends on the regulatory requirements.” A relevant person from a Shanghai bank said in an interview with a reporter from the Securities Times.

On the afternoon of July 23, the Shanghai Headquarters of the People’s Bank of China held a meeting with banks in Shanghai to determine the increase in Shanghai mortgage interest rates. Among them, the first home interest rate was adjusted from the current 4.65% to 5%, and the second home interest rate was raised from 5.25% to 5.7%.

The banker told reporters that the increase in mortgage interest rates is only for the newly accepted business from July 24. According to the usual practice, the interest rates for the first and second homes of all banks in Shanghai are unified at 5% and 5.7%, respectively.

“Compared with the first home, the second home loan interest rate rises by a higher percentage, which objectively has a greater impact on buyers of the second home.” said Yan Yuejin, research director of the Think Tank Center of E-House Research Institute.

Taking the second house as an example, under the previous interest rate of 5.25%, a 30-year commercial loan of 2 million yuan, the monthly repayment amount under the equal principal and interest method is 11044.07 yuan, and the total interest is 1.9759 million yuan; after the interest rate is raised to 5.7%, 30 For an annual commercial loan of 2 million yuan, the monthly repayment amount under the equal principal and interest method is 11,608.01 yuan, the total interest is 2,178,900 yuan, the monthly payment is increased by 563.94 yuan, and the total interest is increased by 203,000 yuan.

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“If the risk of individual mortgage bills is high, the loan interest rate will continue to increase.” Another person from Shanghai Bank told reporters.

The reporter learned from a house buyer that he had just applied for a second-hand mortgage loan in June this year. Due to the overdue record on the credit records, the bank eventually raised the interest rate by 160 basis points (based on a 5-year LPR of 4.65%) ), reaching 6.25%.

“I found a bank through a loan agency. The loan agency asked if I could accept the 6.25% interest rate. If I can, I can sign a loan contract. I have been urged for the next house. I can only accept it.” The buyer said.

Donated housing within 5 years

Still credited to the number of housing units owned by the donor

On the same day, the Shanghai Municipal Housing and Urban-Rural Development Management Committee, the Shanghai Municipal Housing Management Bureau, and the Shanghai Municipal Bureau of Natural Resources Confirmation and Registration jointly issued regulations on strengthening the management of donated housing, and further strictly implemented the housing purchase restriction policy.

According to the “Notice on Strengthening the Management of Housing Donation”, from July 24, 2021, if a house is transferred by donation, the recipient shall comply with the national and Shanghai housing purchase restrictions; the house shall be transferred from the date of registration. Within 5 years from the beginning, the number of housing units owned by the donor will still be credited. At the same time, the management of housing transaction registration shall be strengthened, and the transfer of donated housing shall be included in the scope of housing transaction verification. If the donation party does not meet the housing purchase restriction policy, the transaction registration procedures will not be processed.

Image source: Official Official Account of Shanghai Housing Management Bureau

The “Notice” requires that the natural resource right confirmation and registration affairs centers of all districts in Shanghai (real estate registration affairs centers) should include the donated housing transfers in the comprehensive window receipt; the real estate transaction centers in all districts should strengthen the review and include the donated housing transfers in the scope of house transaction verification (transaction verification) The time of determination shall be based on the date of receipt at the comprehensive window). If the donation party does not meet the housing purchase restriction policy, no transaction registration procedures will be processed.

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“Incorporating housing gift behavior into the scope of purchase restriction is a practice of patching the purchase restriction policy and fixing loopholes.” Yan Yuejin said, “In recent years, the use of housing gift to circumvent the purchase restriction policy has increased, and landlords have reduced the number of properties in disguise. In turn, they obtained the qualifications to purchase houses, and the buyers bypassed the review of the purchase restriction and speculated on real estate, which not only weakened the effectiveness of the purchase restriction policy, but also affected the implementation of the policy of’housing to live without speculation’.”

If the landlord has a house in his name, according to the previous regulations, he will be eligible for the first house immediately after the gift, and now he will be eligible for the first house after 5 years; if he is a Shanghai household registration landlord, he has two houses under his name and is no longer eligible for the purchase According to the previous regulations, the purchase qualification was obtained immediately after the gift of a house, but now it also takes 5 years to obtain the purchase qualification.

Song Hongwei, research director of Tongce Research Institute, said in an interview with reporters that the adjustment of Shanghai’s donated housing into the purchase restriction policy has a greater relationship with the point system’s policy on donated housing. The point system stipulates that the subscription object will be subscribed on January 22, 2021 (including ) The housing donated to others will still be counted under the name of the subscribed object. “If the purchase restriction policy is not adjusted, there will be real estates that trigger the points system and those that do not trigger the points system, and the standards for the identification of houses held by personnel are not uniform.”

“The promulgation of this policy blocked the opportunity to obtain housing qualifications through donations between immediate family members.” Song Hongwei told reporters, “From the perspective of market impact, it will have a certain impact on some points. The projects that were snapped up are mainly upside down. For the Internet celebrity plate, this policy is equivalent to a reduction in the points of the gift. If you lose the qualification to buy a house, it can reduce the project points to some extent and cool the Internet celebrity plate.”

Yan Yuejin said that the inclusion of gifted housing in Shanghai into the purchase restriction policy is also of reference to other cities across the country. “At present, many cities across the country, such as Beijing, Shanghai, Nanjing and Hangzhou, have introduced policies for the inclusion of gifted housing into purchase restrictions. It is expected that there will be cities in the second half of the year. Incorporate housing donation into the purchase restriction policy.”

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Second-hand housing prices can still be traded if they fail to pass the verification

Starting from July 19, Shanghai’s second-hand housing that has not passed the price verification shall not be released to the public. A real estate agent revealed to reporters that the price verification system of the real estate transaction department and the real estate system of the intermediary have been gradually improved, and some of the houses that were not previously displayed on the Internet (within the verified price limit) have been put on the shelves one after another.

Even so, there are still not a few listings that have been removed from the shelves. On the evening of July 23, an intermediary’s external network showed 17,750 listings, which was about 14,300 fewer than the 32,000 when the policy was promulgated.

The above-mentioned intermediary told reporters that there were 77 houses for sale in the Laopo Elementary School outside the outer ring, but only 22 of them were finally displayed on the Internet through verification. “However, failure to pass verification is not all because the listing price is too high. Some are not entrusted by the landlord in writing, and some are incomplete.”

In terms of the houses whose prices have passed the verification, the verified price is not low. “The highest verified price may have increased on the basis of the average transaction price of the community last year.” The intermediary said.

According to the second-hand housing verification and price check mini program launched by a certain platform, the highest price of Fangmeiyuan Third Neighborhood in Pudong, a well-known school district, has reached 189,500 yuan per square meter.

The reporter learned that second-hand houses that have not passed the price verification can only be displayed on the intermediary extranet, but they can be traded normally. “If someone is willing to buy at a price higher than the highest verified price, it will not be affected in the transaction link, but the current buyers are resistant to the listings that have not passed the price verification, and it is difficult to complete the transaction.” The intermediary said.

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