B[Interest discounts, existing housing, and provident fund increase, the real estate market activity in many places increased during the National Day holiday] October 8th, a series of new property market policies have been implemented recently: On August 28th, the Ministry of Housing and Urban-Rural Development and other departments issued a document to implement the existing housing sales system for commercial housing; on September 29th, the Ministry of Finance and other departments took action again, clarifying that starting from October 1st, eligible residents will be given an annualized fiscal discount of 1 percentage point on their first home purchase loans. During this National Day holiday, the property market in many cities performed well. The new and second-hand housing markets in Suzhou, Zhengzhou, Wuhan and other cities have also picked up simultaneously. The number of visits and transaction volume of real estate properties in many places has increased year-on-year and month-on-month. Home purchases for urgent needs and improvements in household replacement have become the main buyers. (CCTV Finance) B[Fujian Province optimizes and adjusts the housing provident fund policy: further broadens the scope of provident fund withdrawal and use] October 1, Fujian recently launched a new policy to optimize and adjust the housing provident fund. On the basis of the provident fund withdrawal policy introduced at the beginning of the year for renovations and parking spaces, the scope of provident fund withdrawals has been further expanded, new measures have been added to benefit the people from withdrawals of property fees and house purchase deed taxes, and policies for withdrawals for renovations and loan repayments have been simultaneously optimized to promote housing consumption and serve people's livelihood. The new policy supports the withdrawal of owner-occupied housing property fees and expands the scenarios for withdrawal of housing consumption. Depositors are supported in applying to withdraw housing provident funds to pay property fees for self-occupied housing in the family's name. They can apply for withdrawals on a half-year or annual basis, effectively reducing the economic pressure on people's long-term property payments and allowing provident fund dividends to run through the entire process of living safely. The New Deal introduces a new policy on the withdrawal of property purchase deed tax and improves financial support for home ownership.
The deed tax paid for house purchase can be included in the total house purchase expenditure, and the depositor is allowed to withdraw the account balance to pay the house purchase deed tax, accurately resolving the financial pressure on the masses in all aspects of home purchase, and fully supporting the rigid and improved housing consumption demand. The New Deal also further optimizes loan repayment and withdrawal policies to make the use of loan repayment funds more convenient. Increase the frequency of loan repayment withdrawals, and depositors can apply to withdraw housing provident funds on a monthly or annual basis to repay home purchase loans. When repaying housing loans outside the province, there is no need to submit the household registration certificate, provident fund payment certificate or social security payment certificate of the depositor or spouse in the place where the house is purchased. This further simplifies the materials, lowers the threshold, and effectively reduces the loan repayment burden of depositing employees. B[Pay property fees and decoration fees The scope of use of Tianjin Provident Fund is planned to be further expanded] On September 15th, reporters learned from the Tianjin Housing Provident Fund Management Center that in order to better meet the diverse housing consumption needs of depositors, according to the newly revised "Housing Provident Fund Management Regulations" and in light of Tianjin's actual conditions, Tianjin plans to increase the withdrawal of housing provident funds for owner-occupied housing property fees and decoration fees. On September 15th, the "Notice on the relevant policies for withdrawing housing provident funds for owner-occupied housing property fees and decoration fees (Draft for Comments)" was released. The main contents of the "Notice" include: First, employees and their spouses who own houses in Tianjin can withdraw housing provident funds once every year before December 31 (inclusive) to pay property fees, and the total withdrawal amount per year shall not exceed 3,000 yuan.
The second is to purchase a house in Tianjin and meet the conditions for withdrawing housing provident funds from purchasing a house in this city. Employees and their spouses can withdraw housing provident funds for the house within two years from the date of delivery as specified in the purchase contract for new houses and within two years from the date of obtaining the property rights for second-hand houses. The withdrawal amount is 1,500 yuan per square meter multiplied by the building area of the purchased house, and the total amount shall not exceed 150,000 yuan. Third, if the employee has held the same house in Tianjin for 10 years and has not withdrawn the housing provident fund for the purchase of the house, down payment or repayment of the principal and interest of the housing loan in the past year, the employee and his spouse can withdraw the housing provident fund once for the house to pay for the renovation and renovation costs, and the total withdrawal amount shall not exceed 30,000 yuan. Fourth, if an employee has applied for any withdrawal for newly purchased housing decoration or housing decoration and renovation for 10 years, and meets the regulations, he or she can withdraw the housing provident fund again according to the above policy to pay for housing decoration costs. (CCTV News) B[Many banks in Shanghai have made it clear that people born before 1991 cannot apply for new 40-year mortgages, and the extension period of existing mortgages cannot exceed half of the original loan period] September 3rd, a new policy that allows mortgages to be loaned for 40 years has attracted attention from all parties. Banks can already accept 40-year loan terms for new home-buying customers. At present, some banks in Shanghai have opened extension applications for existing mortgage loans. The reporter learned from the Shanghai Branch of the Bank of Communications that current existing mortgage loans can be extended. The extension period cannot exceed half of the original loan period, and the total of the original loan period and the extended period cannot exceed 40 years. In other words, the original 30-year loan can be extended to 40 years, and the original 20-year loan can be extended to "20+10" years at most. The Shanghai Branch of China Construction Bank stated that customers can apply to extend the loan period through the CCB Mobile Banking APP (path: Loan - My Loan - Repayment Plan Adjustment - Extend Loan Term) or offline to the original lending bank. It is worth noting that many banks have expressed that the "lender's age + loan term" does not exceed the threshold of 75 years.
In other words, if you are applying for a new mortgage loan and want to apply for a 40-year term, the borrower needs to complete the loan disbursement before the age of 35. This also means that if this standard is followed, borrowers born before 1991 will no longer be able to apply for a 40-year personal mortgage loan when they apply for a new mortgage. If it is an existing mortgage, the situation is different. Since the borrower's age refers to the age when the loan is issued, if the customer is not more than 35 years old when the loan is issued that year, the loan can still be extended to a maximum of 40 years. But people who were born before 1991 need not worry, because the standards may be slightly relaxed when implemented by branches in various places. For example, a Shanghai branch of the Industrial and Commercial Bank of China stated that the standard is that "the age of the borrower + the loan term" should not exceed 80 years. (top view) A[China Construction Bank has opened applications for extension of personal housing loans to 40 years for existing customers] News on August 30. On August 28, the People's Bank of China and the State Administration of Financial Supervision jointly issued new regulations on real estate credit management, extending the period of personal housing loans from a maximum of 30 years to a maximum of 40 years. The specific period is determined by the home buyer through negotiation with the commercial bank. On August 30, the reporter learned from the interview that China Construction Bank has begun to implement relevant policies. CCB customer service staff stated that customers can apply to the bank to extend the loan period. The bank will make a comprehensive assessment based on the specific reasons for applying for extension, the source of repayment, and subsequent repayment arrangements to reasonably determine the specific number of years that can be extended. According to CCB's current implementation standards, the extended period shall not exceed half of the original loan period, and the total of the original loan period and the extended period shall not exceed 40 years. For example, if the customer's original loan term is 30 years, the customer can apply for an extension of up to 10 years; if the original loan term is 10 years, the customer can apply for an extension of up to 5 years. CCB customer service staff stated that the bank will begin to implement the latest regulations from the date of the policy release (August 28, 2026). (Reporter Zou Juntao)
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