At the age of 85, you may not be able to go to work, but you can still pay the mortgage. This is the new policy in the near future. On October 22, 2022, according to local media in Chengdu, the Chengdu Hi-Tech Branch of Bank of China adjusted its loan policy.

85 years old, you may not be able to go to work, but you can still pay the mortgage. This is the new policy in the near future.

On October 22, 2022, according to local media in Chengdu, the Chengdu Hi-Tech Branch of Bank of China adjusted its loan policy. There are several important information in

:

Loan years are relaxed, and both men and women can borrow until 85 years old, up to 30 years.

Simply put, those who were 50 years old could only apply for a loan of 20 years, and some of them would exceed the maximum age loan period of 70. Once the new policy was issued, not only those who were 50 years old could apply for a loan, but those who were 55 years old could apply for a loan of 30 years.

However, it must be a pure commercial loan, and you cannot use provident fund loan or a combination loan of provident fund + commercial loan.

and are not charged for early repayment of , without penalty for liquidated damages, no number of times limits; support shortening the loan term after early repayment; down payment of 50% (inclusive) or above can be provided without flow of .

This is two signals for the home buyer.

First of all, a good house is not afraid of being late. If you are on the wait-and-see attitude, you can have more time to prepare funds without worrying about your age exceeding the loan age.

is secondly to be vigilant about "passing on family loans". The current average life expectancy of in my country is 78.2 years, and the loan is 85 years old, which means that it is longer than the average life expectancy. "When people leave, the 'loan' will not leave."

Among the pure commercial loans of several other mainstream banks in Chengdu, in addition to Bank of China , the age limit for Agricultural Bank of China and CITIC Bank of China is 75 years old, and the age limit for Industrial and Commercial Bank of China is 74 years old.

There are 4 other banks, including Chengdu Bank, Industrial Bank , Bank of Communications, and Everbright Bank age limit of 70 years.

Construction Bank is limited to 69 years old. This is not the first time that a family loan is shared by couples. The relay loan , which was a hot topic in Guangzhou in April, stopped after only one day, but the information revealed was still accepted by the public. In June, the "One-person home purchase family support" in Zhuhai, Guangdong also relies on the provident fund "relay loan", which is the same. More and more banks have launched "relay loan", and "relay loans" are no longer a slogan.

Relay loan can be loaned until the age of 85 also happened in Nanjing not long ago.

was originally a first-hand housing loan information material circulated online by a major bank in Nanjing. The information received mainly includes the following points:

. There is no mortgage record in the name of the borrower and spouse, and minimum down payment of 30% .

. It can be loaned for up to 30 years, and it can be loaned for 75th anniversary. can be loaned for up to 85 years old, and the children can repay it together.

3 and students can take out loans, and parents pay together.

4. Boys and girlfriends can buy a house together, and even ex-couples can pay it back together.

It is reported that as joint repayers, divorced couples need to buy new houses based on the specific policies of the bank that the developer cooperates with, and not all banks can do it.

1

Why is this bank?

On the one hand, Chengdu, as a new first-tier city, has rapidly expanded its city scale and high economic growth, attracting many outsiders, resulting in an increase in the number of new home buyers. The purchase restrictions are now loose, but Chengdu’s housing prices have been relatively strong in recent years, and there is little room for price reduction. In order to increase the transaction volume of real estate, we must find ways to reduce the cost of buying a house and relax the conditions for purchasing a house.

On the other hand, Chengdu has a total of four batches of centralized land supply this year. Among the second batch of centralized land supply, 33 companies have obtained land, and central enterprises, state-owned enterprises, and platform companies account for 80%. , China Resources alone won 6 plots of land, costing about 8.715 billion yuan.

Private enterprises are weak, and the funds are under too much pressure, so they dare not acquire land easily. Therefore, land supply has been taken away by central state-owned enterprises, and they are still high-quality sectors in core areas. real estate is the project with the largest investment returns.

The third batch of centralized land supply in Chengdu has a total of 48. The land price limit and clear water house price limit in each district are very obvious. Policy optimization can create more profits for developers to invest in land acquisition. So when the land is available and the developers are available, the buyer has to be in place.

(Source: Real Estate Network )

However, according to statistics, a total of 6,191 new houses were sold in Chengdu in September this year, and 7,406 second-hand houses were sold. Compared with 12,235 (new houses) and 14,609 (second-hand houses) in August, it was almost halfway.

Public data from the National Bureau of Statistics stated:

National commercial housing sales and for sale

-September, the sales area of ​​commercial housing was 101.422 million square meters, a year-on-year decrease of 22.2%, of which the sales area of ​​residential housing decreased by 25.7%. Sales of commercial housing were 9938 billion yuan, down 26.3%, of which residential sales fell 28.6%.

html At the end of September, the area of ​​commercial housing for sale was 543.33 million square meters, and increased by 8.1% year-on-year. Among them, the area of ​​residential properties for sale increased by 15.6%.

Fund status of real estate development companies

-September, real estate development companies' funds in place were 11429.8 billion yuan, a year-on-year decrease of 24.5%. Among them, domestic loans were 1366.1 billion yuan, down 27.2%; foreign capital utilization was 6.1 billion yuan, up 2.7%; self-raised funds were 405.68 billion yuan, down 14.1%; deposits and prepayments were 373.48 billion yuan, down 34.1%; personal mortgage loans were 183.97 billion yuan, down 23.7%.

Overall, the real estate inventory is large, citizens are still not willing to buy a house, and developers' funds are difficult to return, so local loans are needed to support it. Banks relax loan requirements.

2

Should I buy a house?

In addition to the increase in loan age, real estate policy adjustments have also been frequent this year.

Since the beginning of this year, LPR has dropped three times in a row, and the quotation for more than 5 years has dropped to 4.3%

When the highest interest rates in many places are above 6%.

htmlOn the evening of September 30, People's Bank of China decided to lower the interest rate for the first personal housing provident fund loan of 0.15 percentage points.

Among them, the provident fund interest rate for the first home under 5 years (including 5 years) is adjusted to 2.6%, and the provident fund interest rate for the first home over 65 years is adjusted to 3.1%.

month, Chengdu Provident Fund Center issued a notice and implemented it, and the cost of provident fund loans was further reduced.

Now the maximum loan period is relaxed, breaking through the psychological defense of citizens in three aspects, but the benefits and interests must be clear.

is enlarged to 85 years old, and is limited to pure commercial loans. Other loan models are not useful. Although the interest rate of commercial loans has been lowered many times, the overall interest rate is still higher than that of provident fund loans.

After the mortgage repayment age increases, the monthly repayment pressure of home buyers can be reduced to a certain extent.

Take a mortgage of 1 million yuan as an example. Assuming the mortgage interest rate is 4.3%, using the repayment method of equal principal and interest , it can be quickly concluded using the mortgage calculator of Anjuke that after the mortgage repayment period is extended from 15 years to 30 years, the monthly monthly payment pressure can be reduced by 2,778 yuan.

However, the total interest increased by 391,000 yuan, which is a considerable economic expenditure for the elderly in their 80s.

If the age is between 18 and 40 years old, a pure commercial loan will be used to pay a down payment of more than 50% (including) and no flow will be provided. To a certain extent, the bank loan review approval rate can be improved.

The relaxed loan age limit can also reduce the early mortgage pressure and be more beneficial to families with urgent needs and house exchanges.

has advantages and disadvantages, depending on the requirements.

Source: Let’s talk about finance