Policy Interpretation of the Notice on Issues Related to Adjusting Housing Provident Fund Personal Housing Loan Policy and Further Optimizing Services

　　CCTV News:According to the website of the housing fund management center of the central state organs, in recent years, the housing fund management center of the central state organs (hereinafter referred to as the fund center) has thoroughly implemented the spirit of the 19th National Congress of the Communist Party of China and the requirements of the "streamline administration, delegate power, strengthen regulation and improve services" reform in the State Council, actively supported the payment of workers’ basic housing consumption demand, vigorously promoted reform and innovation, optimized business processes, streamlined certification materials, improved work efficiency, and effectively reduced the burden on workers, and achieved remarkable results, which were affirmed by the broad masses of cadres and workers. In order to thoroughly implement the Party Central Committee’s positioning requirement of "insisting that houses are used for living, not for speculation", to guide employees to pay reasonable housing consumption, and to further facilitate their work, according to the relevant documents of the Ministry of Housing and Urban-Rural Development, we have adjusted some housing provident fund personal housing loans (hereinafter referred to as loans).

　　In order to facilitate employees to better understand the Notice on Issues Related to Adjusting Housing Provident Fund Personal Housing Loan Policy and Further Optimizing Services (hereinafter referred to as the Notice), the relevant contents are now interpreted as follows.

　　First, support employees to buy policy housing.

　　In order to further implement the Party Central Committee’s positioning requirement of "insisting that houses are used for living, not for speculation", give full play to the people’s livelihood protection function of housing provident fund, and further increase efforts to support paid employees to purchase policy-oriented housing, the Notice gives priority to supporting employees who purchase policy-oriented housing to apply for loans in terms of loan amount, number of housing units and approval time limit.

　　"Purchase policy housing for loans … … The processing period from application to issuance does not exceed 8 working days "excluding portfolio loans, which must meet the lending requirements of commercial banks at the same time."

　　Second, adjust the deposit conditions for loan applications

　　According to the relevant regulations of the Ministry of Housing and Urban-Rural Development on the loan conditions of loan applicants, the deposit time when applying for a loan is changed from the original "the loan applicant should establish a housing provident fund account for 12 months, and the full amount should be paid continuously 12 months before applying for a loan (6 months for purchasing policy-oriented housing)" to "the loan applicant should pay the housing provident fund continuously for more than 6 months (inclusive) when applying for a loan".

　　Third, further implement the differentiated loan policy

　　(1) The standard for determining the number of housing units has been adjusted from "recognizing housing but not lending" to "recognizing housing and lending". "House" refers to the house in Beijing under the name of the borrower, and "loan" refers to the nationwide commercial housing loan records and housing provident fund loan records in the personal credit information system of the People’s Bank of China. If divorced after March 24, 2017 and divorced for less than one year when applying for a loan, the original policy will still be implemented and handled according to the second set of housing loan policies.

　　(2) Adjust the down payment ratio and the maximum loan amount for the second house. In order to increase the support for employees’ basic housing needs, ensure that housing provident fund loans are mainly used to guarantee the demand for first-time housing purchase and policy-oriented housing purchase, and guide employees’ demand for improved housing purchase to be mainly solved through portfolio loans, the down payment ratio will be adjusted from a unified 20% to a classified 20% for the purchase of affordable housing; 30% down payment for the purchase of the first set of housing other than affordable housing; If you buy a second house, the down payment will be 60%, and the maximum loan for the second house will be reduced from 800,000 yuan to 600,000 yuan.

　　Four, adjust the loan period and the upper limit of monthly repayment.

　　In order to implement the relevant provisions of the Ministry of Housing and Urban-Rural Development and strengthen risk prevention and control, the loan period of the loan applicant can be adjusted from the longest calculation to the 70-year-old of the loan applicant to the longest 65-year-old; The upper limit of the monthly repayment amount is adjusted from "after the income of the borrower and spouse repays the loan every month, the per capita living expenses retained shall not be lower than the basic living expenses standard of Beijing" to "on the premise of ensuring the basic living expenses of the borrower, the monthly repayment amount calculated by the equal principal and interest repayment method shall not exceed 60% of the monthly income of the borrower according to the loan amount, term and applicable interest rate applied by the borrower."

　　Five, to further facilitate employees to handle business.

　　(a) to start the housing provident fund loan repayment business. In order to facilitate the borrower to repay the loan, the fund center opens the business of housing provident fund repayment, and can deduct the balance of the borrower’s housing provident fund account by accounting treatment on the deduction date agreed in the Loan Contract to offset all the repayment amount of the loan in the current period. When applying for a loan, the loan applicant can voluntarily choose whether to open the loan repayment. If the loan repayment is not opened but overdue, the fund center can directly deduct the funds in the housing provident fund account to repay the loan. Loans accepted from the date of issuance of the Notice can be applied for opening the loan repayment.

　　(2) Further streamline the certification materials. In addition to streamlining the copies of some certification materials, if the loan applicant transfers to the fund center to deposit the housing provident fund through the national housing provident fund transfer and connection platform, if the deposit time of the housing provident fund does not meet the relevant regulations when applying for a loan, you can inquire about the deposit information in different places through the loan handling outlets, and you don’t need to go back to the original deposit city provident fund center to issue the Certificate of Deposit and Use of Housing Provident Fund for Employees with Foreign Loans.

　　(3) Publicizing the progress of loan processing. The fund center publicizes the progress of loan processing in time, which facilitates the loan applicant to choose the best handling bank according to the handling efficiency of bank outlets and the loan interest rate of portfolio lenders while accepting social supervision.

　　VI. Implementation Time of the Notice

　　The relevant contents of the loan policy adjustment in the Notice shall be subject to the online signing time of the house purchase contract; The relevant contents of the measures to optimize the service shall be subject to the loan acceptance time.