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Comments: Wah Hing Bank test water 70 percent mortgage rate for suspected irregularities?

The 70 percent mortgage rate is back in the market for a long time of silence, 70 percent mortgage rate on suspected irregularities? Recently, China Bank became the first to eat the crab banks, it said provides a minimum to 70 percent mortgage rates. 70 percent mortgage rates for home buyers was a big plus, 1,000,020-year mortgage compared with its benchmark interest rate to save on interest of 280,000 yuan, which will no doubt lead to more demand in the market, which will further boost the property market. But people in the industry think that 70 percent mortgage rate on suspected irregularities.
little Hua XING led the first bank the Bank started to test the waters 70 percent mortgage rate
mortgage a 70 percent discount on Executive in 2009, coincided with the financial crisis, a recession in the property market, countries to stimulate the development of the real estate industry, introduced the economic stimulus package, Bank lending is also generally a 70 percent discount. By the year 2010, market regulation more strict Bank canceled 70 percent off one after another in the first half. In November 2010, the issued verbal notification to regulators, banks are required to perform a minimum of 85 percent discount. Since then, in addition to the stock of home loans, a 70 percent discount in new mortgage loans disappeared. By 2011, the first set of mortgage interest rates rising has become the norm.
entered in 2012, the situation was reversed. With the Central Bank's 3.5 years for the first time interest rates and lending and deposit float range new adjustments, China Bank recently announced high profile: the first set of personal housing loan interest rates to 70 percent off. Bidding for the second mortgage, the Bank strictly to the existing float of 1.1 times benchmark interest rate policy. But us banks stressed that ultimately might qualify for 70 percent mortgage rate offers, depending on the customer's credit situation may be.
7 discount rate means a lot to buyers, you can save a great deal of interest. If a commercial loan of 1 million yuan of 20-year calculated in accordance with the method of equal repayments to benchmark interest rates 6.8% and 70 percent off at 4.76% (just over 5 years of Provident Fund loans interest rate 0.06%) respectively, the latter than the former monthly payments to reduce 1165, less total interest payments to more than 280,000 yuan!
7 discount mortgage rate is it against? Parties agree there are direct bank cut its first mortgage rate to 70 percent, the policy allows the Bank to where is the bottom line for the first mortgage discount? Bank insiders have different interpretations.
Shanghai Banking regulatory Bureau stakeholders in an interview with reporters, expressed surprise at the first appeared in the Bank mortgage at 70 percent interest, while the loans immediately said the suspected irregularities. Because Central Bank announcement on June 7 made it clear that financial institutions loans interest rate floating range of adjustment to the minimum level of 0.8 times times the benchmark interest rate, the mortgage business is also included, of course, so the bottom line is that 80 percent of the mortgage interest rates.
a big state-owned bank who also hold similar views, he believes that "mortgage rates bottom line, regulators have been the interim policy, and current policy is the minimum 80 percent last week. "
but there are also bankers surveyed believed regulators had never issued a 70 percent discount before the abolition of early" bottom line "theory first mortgage interest rates can be a minimum 70 percent off.
one large bank mortgage Department head says 70 percent discount has never actually been banned just because last year mortgage regulation is very strict, combined with the extreme lack of liquidity in the market, leading to capital price soared.
whether the Bank will follow the "70 percent"? Remains to be seen
banks believe that, US Bank is a newly established Bank, smaller, will not be much impact on the market, 70 percent discount will generally remains to be seen.
it is understood that China Bank, joint-stock Bank was established in August of last year. According to the official website of the Bank's information, Guangdong Hua XING banks in Guangzhou, Shantou has a dot, respectively.
after the Central Bank cut interest rates, many banks are quietly first mortgage discount is given, there is a 90 percent, 85 percent, and banks later said was 80 percent will be adjusted according to the Central Bank's latest policy.
a big state-owned Shanghai Branch a gold yesterday said there is no received notice from head office on mortgage interest rate lower limit, therefore the maximum discount is still 85 percent of first mortgages. "Based on the cost of capital, did not rule out the next step we will cut benefits to 80 percent. "The source also pointed out that, according to the Central Bank's latest policy loan interest rates can hit 80 percent, both in company loans the lowest discounted bottom line, including minimum bottom line personal housing mortgage loans.
also has a State Bank official said the Bank is unlikely to offer further cuts in interest rates. "85 percent is already a last-ditch move. "The official said, if the mortgage hit 80 percent, banks may not make a profit, a 70 percent, equivalent to a loss.
one industry source pointed out that Bank funding costs are different, causing reduced-rate maximum rate for loans differ, but the characteristics of the mortgage market is, if there is a Bank raised loan prices, other banks will follow suit, but as long as there is a bank down, most likely other banks have been forced to follow the trend of prices.
-time buyers expect 70 percent mortgage to postpone the purchase to discount
"all the Bank's mortgage business is fierce, dared to launch mortgage at 70 percent interest. "A large State-owned banks at once the head of mortgage loan consultants say, individual small banks took the lead in making mortgage at 70 percent interest after news spread, many being passed through the line to apply for mortgage customers have said also called for a 70 percent rate discount, otherwise it will go to other banks to do so.
"I've been looking over the weekend China Bank in Shanghai, where the site is located in, and never found. "Buyers of mortgage loan consultant right away, then he Hua XING in Guangdong Bank's official website to know that the website is currently limited to Guangdong, so that only the introduction of mortgage and other major commercial banks also after 70 percent interest rate, homebuyers can generally enjoy.
said although he and his family have been bullish on real estate, and the discount rate is satisfactory, and the developers to sign the purchase contract. But given that mortgage rates hit 70 percent can save interest expense by about 460,000 yuan, so he and his family on this great offer is expected decide to rather wait to relieve pressure on monthly payments in the future.
"70 percent thought mortgages interest rate history. "Other buyers, Shen said he hoped Bank universal loan 70 percent interest rate as soon as possible, otherwise after prices go up, mortgage-interest preferential prices to offset.
users comments: China XING Bank try water 70 percent mortgage interest rate not suspected violations, if mortgage interest rate playing 70 percent can save interest spending, this for just needed purchase who is has temptation, static, mortgage 70 percent interest rate appeared
Bank experts comments: China XING Bank try water 70 percent mortgage interest rate suspected violations, the policy and national policy deviated from, mortgage 70 percent Bank fundamental earned not to money, has against market order!