Who opened the business loan "Pandora's Box" for speculators
- Categories:News
- Time of issue:2021-05-13
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(Summary description)What should I do if I am qualified to buy a house but lack the funds to buy a house?
The services provided by banks, capital intermediaries, and real estate intermediaries can be described as "extensive" and can always "solve problems" for speculators.
Who opened the business loan "Pandora's Box" for speculators
(Summary description)What should I do if I am qualified to buy a house but lack the funds to buy a house?
The services provided by banks, capital intermediaries, and real estate intermediaries can be described as "extensive" and can always "solve problems" for speculators.
- Categories:News
- Time of issue:2021-05-13
- Views:0
What should I do if I am qualified to buy a house but lack the funds to buy a house?
The services provided by banks, capital intermediaries, and real estate intermediaries can be described as "extensive" and can always "solve problems" for speculators.
Operating loan interest rate drops
Since 2020, the illegal inflow of operating loans into the property market has clearly risen. In Shanghai, Guangzhou, Shenzhen and other cities, there have been many cases of "bridge financing, buying a house with full funds, taking out business loans, and paying off bridge financing".
Business loans are financing products served by SME owners or individual industrial and commercial households. Borrowers can obtain loans from banks for business operations through real estate mortgages and other guarantees. After the business loan is processed, within the credit line, the business owner can borrow and use it at any time, facilitating the capital turnover of the enterprise. As a financial product that supports the development of small and medium-sized enterprises, operating loans have existed for many years. Why has it been alienated in the past two years and has become the driving force behind the overheating of the property market?
Li Yujia, chief researcher of the Guangdong Provincial Housing Policy Research Center, believes that there are three reasons: one is the decline in operating loan interest rates, which are already lower than the mortgage interest rate, which is obviously inverted; the second is the lengthening of the loan period, the occurrence of revolving loans, the first interest and then the principal, and the maturity. The phenomenon of exemption of funds crossing bridges such as renewal of loans; third is the increase in the loan amount, from 50% of the previous real estate appraisal value to 70% to 90%.
"Since last year, I have received information from three banks that can handle real estate mortgages. The annualized interest rate is about 3.8%, which is not only much lower than the second home loan interest rate, even lower than the first home loan interest rate, but also can get The loan line is 70% of the total house price. I originally only had 40% to 50% of my own funds, which was not enough to pay the down payment for the second home, but only 30% of the down payment with the operating loan is equivalent to lowering the down payment." A business operator in Shanghai Say, "In this case, if I want to buy a second house, I will definitely use business loans, not house loans."
After interest rates fell, operating loans not only reduced financing costs, but also broke the loan ratio restrictions in the loan restriction policy in disguise.
Therefore, many intermediaries preach to real estate speculators the "idea" of using business loans to buy houses and provide intermediary services for buying and selling enterprises. In Shanghai, Shenzhen and other places, buyers can purchase a company established for more than one year through an intermediary for only a few thousand yuan. As long as the buyer is among the top three shareholders of the company and has real estate under their name, the real estate can be used as collateral. For property, apply for business loan from the bank.
Ms. Wei, a real estate speculator in Shenzhen, in April 2020, under the instigation of an intermediary, she found a microfinance company to advance 4.63 million yuan to buy a house in a hot spot in Shenzhen with a total price of 7.28 million yuan. She specially bought a company through an intermediary for more than 7,000 yuan, "just to engage in business loans, which also includes the cost of accounting for this company for one year." But that month, the illegal inflow of operating loans into the property market was exposed by the media. Subsequently, the bank tightened its lending policy, requiring that the real estate transfer six months before applying for operating loans. The microfinance company's high interest rate of 24% per annum squeezed Ms. Wei's money and broke the chain of funds. In the end, this house was auctioned off by the court in December 2020.
Operating loans increase the "leverage" of real estate speculation funds
Operating loans flowed into the property market, increasing the "leverage" of real estate funds. This kind of "adding fuel to the fire" has weakened the effectiveness of property market regulation.
In April 2020, the regulatory authorities have already spoken out against illegal “blood transfusion” of real estate through consumer loans and business loans. At that time, there was indeed a wave of speculators like Ms. Wei who encountered financial difficulties due to the tightening of operating loans, and they came back in despair. However, in the past year, business loans have not disappeared, and even have become more and more intense.
Since 2021, a campaign against the illegal appropriation of "business loans" for real estate speculation has been launched in many hot cities. Cities such as Beijing and Hangzhou have clearly stated that they will strictly prevent the inflow of business loans into the property market. Cities such as Shanghai, Guangzhou, and Shenzhen have stepped up investigations and punishments for misappropriation of business loans.
According to data released by the Guangzhou Branch of the People’s Bank of China and the Guangdong Banking and Insurance Regulatory Bureau, after investigation, as of March 16, it was discovered that banking institutions within the jurisdiction of Guangdong (excluding Shenzhen) were suspected of illegally flowing into the real estate market with a problematic loan amount of 277 million yuan and 920 million yuan. Household.
The Shenzhen Banking and Insurance Regulatory Bureau and the People’s Bank of China Shenzhen Central Sub-branch notified the results of the special verification of operating loans on March 18: 21 loans with a value of 51.8 million yuan for suspected violations have been recovered in advance, 4 institutions that violated regulations were punished, and those responsible for violations were punished 14 The total amount of punishment was 5.75 million yuan.
The Shanghai Banking and Insurance Regulatory Bureau stated that 135 commercial banks in the Shanghai area have completed the special self-examination of personal housing credit management, and there are violations of the use of loan funds, and some personal consumption loans and business loan funds have flowed into the real estate market. At present, relevant banks have formulated rectification plans for the problems found in the self-inspection, such as recovering illegal loans or formulating a collection plan, establishing a ledger and making a list of the credit fund problems found in various inspections, and clarifying the rectification measures and responsible persons And completion time limit.
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