Rates under high pressure renovation loans popular

View of the current high prices, many consumers pay End house down payment, have been unable to face the high cost of the renovation. Many businessmen in Shanghai recently to attract customers, have launched a renovation loan or hire services. If B & Q launched in the early "easy", the United States grams of the United States to introduce interest-free instalments, and so on. Through the press learned that at present, Shanghai has many ways to enable consumers to solve the pressing need of renovation.

Option 1: provident fund renovation loans

January this year, many banks launched a provident fund loans, the public can developers on the sale of the entire renovation (existing home), since the purchase of second-hand housing renovation plan to the provident fund management center for housing accumulation fund overhaul (renovation loans), housing homebuyers Guarantee Corporation in the district branch, where the application may direct.

A staff member of the bank, told reporters that the services to the Shanghai Provident Fund Management Center applications, buyers can, in the normal provident fund loans, through a certain amount of the provident fund review, you can get a maximum of 1,000 yuan of loans square meters, However, the two loans of provident fund loans shall not exceed a total of 300,000 of the loan amount. In addition, the two have been in loans and the commercial banks for loans shall not exceed the total value of the property purchased 70 percent for up to 30 years.

In addition, under the current interest rate policy, on April 29 this year, financial institutions, five years and more than five years the benchmark lending interest rate from the current 6.12 percent to 6.39 percent. And the same five years and more than five years of the Provident Fund lending rate from the current 4.41 percent to 4.59 percent adjustment, the widening gap between the two to 1.8 percentage points.

To reflect the policies of the financial advantages, industry believes that the future provident fund loans will be reduced 2 percent to 3 percent. This also means that the future provident fund loans and business loans, the interest rate gap may have widened.

However, according to home ownership housing security company, for renovation loans require real decoration. Customer applications to be submitted to the deed, renovation contracts, prepaid decoration companies and 30 percent of the renovation of a formal invoice payments, home ownership and housing provident fund centres will also guarantee a personal real estate and decoration of the authenticity of a survey, personal investigation, Assessment and submitted for consideration, the final will be the lenders. Survey and evaluation procedures cumbersome, to consumers has also brought unnecessary trouble.

Option 2: renovation loans

Get new houses, decoration, not enough, the way to or from the general commercial bank loans decoration, such as personal loans consumer loans, in accordance with the basic interest rate to the implementation of the benchmark rate. Such loans for the formalities relatively complex, CCB Shanghai Branch as an example, the renovation loan applications for the shortest period of six months, the longest period of not more than five years (including five years), the ceiling is not more than 150,000 yuan. In addition to the normal procedures required for proof of identity, mortgages and other proof required, and decoration companies signed the "family renovation works contracts" and "the purchase of household decoration materials contract," and "the purchase of kitchen and toilet facilities contract" as well as families of the renovation budget , And other related materials.

However, in order to remove the consumer's troubles, some banks in Shanghai launched a renovation loans and housing loans combination of loans, if the loans are good personal credit history, but also for the real estate collateral, you can get a decoration Loans, and relatively easy procedure, the funds become available relatively quickly. If the bank's "a loan" service, through a personal real estate mortgage ceiling based on individual customers to provide a high quality of credit, the cycle of repeated use of personal credit products or product mix. For "a loan-to-specialists", can get 80% of the maximum credit limit, and in line with this, if you did not use to the full housing loans, or have early repayment, you can easily run to a maximum of more than 150,000 yuan The renovation of, and the duration of loans from the past five years extended to 10.