To buy a House, where down payments come from? Oriental IC data
"Inventory" is central to defining one of the five major economic task this year. Since the beginning, China issued a series of policies to stimulate real estate sales, including reduced home buyers down payment ratio, adjusted the real estate taxes, individual housing transactions "camp to increase".
Policy appeared to be, the effect is cold then hot. New policies to boost the real estate market there are some new signs: one or two-tier cities such as Shenzhen, Shanghai, Beijing housing prices rising rapidly, while inventory pressure three or four lines of cities modest. With one or two city House prices soaring, some of the risk factors in the bud. Many home buyers down payment guarantee, real estate finance companies with "down-payment loan" and other property market with capital, which inflated the buyers pay pressures and risks. How to "inventory" at the same time avoid new risks? Migrant workers "live the dream" still what are the difficulties? What do developers think about the current changes in the market? Now is a good time to invest in three or four cities to buy a House? From the beginning of this period, we launched "robust inventory" series of investigative reporting, the pulse of new trends in the real estate market, listen to the buyers and developers, while three or four cities housing inventory, "inventory" was built to make suggestions.
--The Editor (on March 28 of the original 12 edition of people's daily, full-page feature concerns a loan down payment, this series of articles for the Milan headquarters • robust inventory for the first set of articles, the original title for the stop-payment loan, can be born? ）
To buy a House, where down payments come from?
Ouyang Jie Xie Weiqun Chen Jianfeng
Who used the down payment loans: number intermediary, P2P companies involved in down-payment loans, using leverage to reduce the purchase threshold
Juan is a bank clerk in Beijing. After graduation, she wanted to buy a House a home. After months of hard and Kinky House late last year, Juan has selected a second-hand house price around 1.8 million Yuan, down by 30%, have to pay 540,000 yuan.
Thought it went well, did pay the down payment, who was in trouble. Advance to homeowners after the 100,000 yuan deposit, Juan is ready down the rest of the 440,000 yuan. But the Agency said that, the 440,000 yuan had put their money on monitoring platform, not paid directly to the seller, to do so "is to ensure that the interests of buyers and sellers." While sellers are anxious to get cash.
Mediation chatted with the seller and the buyer respectively, presented a "balanced" approach: Juan down payment money can be put to mediation's pledge of full guarantee company, and then lend an equivalent amount of cash paid to the seller. So sellers can get cash directly, and Juan is going to interest payments on a loan, but the interest is not high, 3-month interest rate 0.5%, more important is to be able to buy the right House.
Like Juan forced to down payment loans may not be numerous, but regulators recently put a stop-payment loans have caused widespread concern in the market. In fact, the down-payment loan in 2014, and developed very rapidly in recent years, some buyers can even tens of thousands of dollars to buy a House, behind the risk is obvious.
What people are using the down-payment loan?
Centaline said Zhang Dawei, Chief Analyst, down payment and loan groups focused on two classes:
Want to buy a House, another House to sell, but there is a time difference, needs money to flow, may need to be bridge funding, thought of down-payment loans, which accounted for about three or four;
Second, in some cities, did some financing speculative buyers, because there are no buyers, using leverage to lower the threshold. "However, it is difficult to judge whether buyers used to live or invest. "Zhang Dawei said.
So, who is providing down-payment loan?
According to the survey, provide down-payment loan model there are two main types:
One is some real-estate agents and developers, recommended by the Sales Office of the agency or to the buyer, intermediary providing micro-credit services, or as an intermediary, finding the right financial institutions provide loans;
Another is some Internet banking platform, small loan companies and real-estate developers, intermediary institutions, particularly some online lending platform (P2P), using its "advantage" to provide some funds come from individual investors.
General applications P2P company loan down payment threshold is lower. Silver Valley Pratt, for example, apply for a loan simply provide identity cards, certificates, proof of income, proof of residence and other materials, provision of credit, the more, higher loan amounts, monthly or 1.7%-2.3%-2.4%, funds must be registered, funds can be used for the down payment loan, just clarifying when communicating with the Bank are used for decoration or for personal consumption. As another example, ping an launched good room good mortgage, collateral, Max 70% provides the value of the mortgage loans, no mortgages the maximum loan of 300,000 yuan.
What if they can't loan do?
Financial guarantee company account manager Danbayashi Beijing Beijing says, "has a lot of down-payment loan through the secured corporate guarantee from bank loans, loan, indicating personal consumption, does not tell the Bank is used for the down payment. If not, we will help customers to apply for extension of the Bank, the Bank will agree, as we have in the bank deposit. 2-3 months later, you can go to raise money. Finally it also can't not can you sell? But now can't have yet to meet. "
Big risks: the down payment loan leverage can become 10 times, high leverage magnified unreasonable demand may cause bubbles in the real estate market
Originally incapable of home buyers who purchase eligible, provides down payment and loan agencies are funding a lot of uncertainty, the risk can be imagined.
"It can be said that a high risk of down-payment loan, because their sources behind a great deal of uncertainty, more involved in, unable to achieve full control and verification. "Zhang Dawei said.
Zhang Dawei introduction, General mortgage lending will stay in the room of a certified mortgage to his right, which cannot be secured against unrestricted, but more credit loans down payment loan, do not need to do right, does not require registration of the rights of others, under extreme conditions in many places doing the down payment loan. And down-payment loans and unlike the Bank's consumer loan in the Bank system to flow once more uncontrollable market risks, adverse effects are very large.
20% down payment to buy a House of 1 million Yuan, for example, buyers need a bank loan of 800,000 yuan, paid 200,000 yuan, lever for 5 times. And down-payment loan, homebuyers down payment part of the loan of 100,000 yuan, a total loan of 900,000 yuan, paid only 100,000 yuan, the lever has become 10 times.
"Such high leverage, if housing prices fall, speculators funding gaps, foreclosure risk is transferred to the Bank and bring instability to the economy. "Shenzhen comprehensive development Institute of tourism and the real estate Research Center Director Song Ding said.
Sun Wei, Deputy Governor of Shanghai Branch of the construction Bank said loan down payment to buy a House, no principal or only a few of the principal paid, bet is housing all the way up, if the House falls, there may be abandoned, which facilitated the speculators, reduce their costs, but real lending institutions at risk, also risks affecting banks.
Shenzhen Bank official said that once the mortgage default, auctioned the banks as collateral property. If massive defaults, banks will need to sell a lot of real estate. The real estate market, will inevitably lead to a fall in house prices. Prices fall, buyers will be on the sidelines. Mortgaged property didn't sell, the Bank can undercut selling, eventually leading to collapse in the property market, caused banks shrink and the price will eventually affect depositors, have an impact on the real economy.
"Down payment loan to help home buyers Zoom lever, easily lead to speculation, artificially magnified the unreasonable demands, a local real estate bubble in May. "By the Chinese Academy of social sciences, financial banking Zeng Gang, Director of the Research Office believes that, taking into account the assets of the financial system as a whole, real estate loans to high, the housing market if the local bubble is likely to bring harm to the financial system.
"For financial institutions, which serve only to bypass the banks down payment threshold, causing a lot of speculative demand, does not have the repayment ability of the people to receive loans, also buried in risk control problems. Moreover, the appearance of the down payment loan, leaving many people without buying capacity and the purchase will be stimulated, attracting more and more people invest, they ignore the real estate bubble risks. If the real estate bubble, and will bring great losses to lenders and buyers. "Zeng Gang said.
Down payment loans, risk do?
Reporter Wang Guan Lv Shaogang
Stop, too: record packaging, products turned up a down payment, is not easy to judge the money flow, it is difficult to achieve "catch-all" controls
Down payment loans and other property with hidden risks behind the funding, has been brought to the attention of regulatory authorities. On March 4, Shenzhen municipal financial Office sent a letter to the relevant industry associations, called for in Shenzhen down payment loan or other highly leveraged mortgage diagnostic investigation, further research on emerging financial institutions, "added leverage" of risk. On March 18, the Shenzhen Association of Internet financial publication said, no new "chip speculation" business for stock business immediately collected and cleaned, any business shall not, by changing the "names", the author continued to operate below the to line.
Wind in the regulatory tightening, down-payment loans can really died down?
On March 21, the reporter came to Chaoyang District, Beijing zhongtian real estate company, asked whether providing down-payment loans. Staff hosted a press conference, said it can provide down-payment loan service: customers looking to pay 300,000 heads of State, and no real estate in Beijing, the Agency can help package identity to the Bank for unsecured lines of credit, but can't tell a bank loan for a down payment, and to say that he's spending or home decoration.
According to the company staff, customers need only provide proof of personal work, Bank water, credit reports, qualification and CPF card. Even those customers with poor credit records, agency or through internal channels "packaging" to ensure customers to get loans from banks a one-time success, but "packaging" to pay for service fees.
With 300,000 yuan in cash loans, for example, agents to help customers to bank loans, the 3-year loan interest rate is 10%, in accordance with the periodic repayments, or 300,000 yuan in cash loans of 36 stages, each stage to 10500, all paid amounts to 378,000 yuan, which the agency charges a 2% fee, or 6000 Yuan.
Reporters then asked several financial companies on the Internet. It is understood that 97 mortgage network, Bo easy loan, easy loans and other loan products of several loan company, you can still play "down payment loan" effect.
To easy credit as an example, on March 21, the reporter on the P2P platform application the sum of 450,000 yuan of credit loan. Platform staff in interviews with the reporter said after income and working conditions: eligible loans.
The staff said, easy credit network and number of small loan companies, can help customers at the same time borrow from dozens of companies, small loan companies limit effective, can still borrow hundreds of thousands of Yuan. "Would you buy it for a down payment or to buy a car, whatever the consumer will do. "
"Young people want to buy a House, but can't scrape together a down payment and borrow money from relatives and friends, it's hard to judge where to borrow money, or borrow money for any purpose. "Zhongyuan real estate Chief Analyst Zhang Dawei said, some package in different names in the for down payment of borrowing products, not excluded exists Camera Obscura operation of may, but found and recognition and has must difficult, especially some through consumption loan, products take to of funds, cannot track its funds flows, still may flows property, from regulatory level hard on down payment loan for" a knife cut "tube control.
Regulation: the twilight zone the need to intensify policies improving, banks should strengthen attention to customer down payment sources
"The grey area of financial innovations of the Internet possible restrictions should not be speculative. "CASS Finance Bank of China Zeng Gang, Director of the Research Office believes that emergence of down payment loans, especially down-payment loan through the P2P companies, just goes to show the absence of regulatory levels in some areas. Keep no systemic risks to the bottom line, it is necessary for this kind of financial innovation on the regulation of the Internet more effective, for the rational development of compliance.
"The data showed, down payment and loan size at 2.5 billion to 3 billion yuan in Shenzhen last year, but I think it should be more than. "Shenzhen poverty housing society Executive Vice President Chen Ai believes that some other form such as consumer loans, credit and loan-payment loans in disguise, are hard to find and investigate it. And rely on the Government order put an end to the down payment loan is not realistic.
Poverty Chen Ai believes that down payment loans are not currently regulated, financial laws and regulations on the Internet there are some fuzzy areas, need the Government to introduce appropriate policies, and gradually perfect the supervision.
"Want to stop down-payment loan, first of all should be clear formal institutions such as banks, intermediaries do not participate. "Zhang Dawei think after some P2P platform qualification and failed to pay down loans, unable to confirm the source of funds, there are risks in the capital, special rectification activities of related financial sectors should be combined with the Internet, real estate agencies, real estate companies and financial operations in cooperation with P2P platforms to be sorted.
Not only that, the banks themselves should also strengthen risk awareness. Zeng Gang believes that banks should strengthen monitoring and attention to the customer down payment sources. In principle, banks tighten lending review, evaluate the solvency of the borrower, adhering to the lending standards.
At present, the express request of the construction Bank of China Shanghai Branch, statement prior to signing the mortgage, down payment on a promised part of the own funds. However, bankers said, bank loans, could not put an end to the down payment loan, because banks do not have all the information. Information asymmetries, can really prevent the emergence of down-payment loan.
Bank of communications Shenzhen branch official, at present, the Bank at the time of issuance of home loans, will verify the borrower's down payment in detail once used down payment loan products, will not allow its mortgage. Bank loans from multiple down payment to verify the situation of the applicant, includes both the interview and the phone check, understanding from the side of its main source of income and down payment, to review the accounts of the applicant flow through water to gauge the applicant's income situation, inquire about the suspicious financial flows. "In addition, the applicant must brush down payment using my debit card. " Theme stock outbreak gem rose more than 4 the
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