Sihai network

Pay liquidated damages for early repayment of housing loans and crack down on speculation and profit

Yesterday, the housing loan policy in Suzhou changed again. Suzhou Branch of ICBC, ABC, CCB and CCB confirmed to the local media that from now on, if the new personal housing loan business is prepaid within 5 years, it will be charged a certain amount of liquidated damages, which is equal to the prepayment amount & times; monthly interest rate of housing loan & times; 6. Is it that many people are curious why they will deduct liquidated damages if they repay the loan in advance? What's going on?

It is understood that at present, the interest rate of the first house loan in Suzhou is generally 20% higher than the benchmark interest rate, i.e. 5.88%. According to this figure, the monthly interest rate is 0.49%. If the prepayment is 1 million yuan, the user needs to pay 29400 yuan of liquidated damages. Before that, the restrictions on prepayment of these banks have been very loose. Some banks can apply for prepayment only one month after normal repayment. There is no service charge, and some banks can only pay three months at most even if there is default interest.

Reporters from Beijing Youth Daily learned yesterday from Beijing Branch of ICBC, ABC, China Construction Bank and China Merchants Bank that there is no change in the current policies of these banks in Beijing, whether it is the mortgage interest rate or prepayment. The interest rate of the first set of house loan is 1.1 times of the benchmark interest rate, and the interest rate of the second set is 1.2 times. The specific policy of prepayment shall be implemented according to the terms in the loan contract signed by the customer, which requires the customer to apply 30 days in advance.

From the legal point of view, prepayment is actually the customer's breach of contract, which shortens the repayment time stipulated in the original contract and will bring losses to the bank, so the customer should bear the cost of breach of contract. In general, banks in Beijing are very relaxed about prepayment. ICBC, China Merchants Bank and other banks have made it clear that they only need customers to apply one month in advance and do not need to pay any fees.

Generally, according to the contract, the buyer needs to pay a certain amount of liquidated damages for prepayment within 1-3 years after the loan, and beyond this period, the fine can be exempted. But according to the reporter, in the actual operation, even the same bank, in different periods, the agreement for different customers will be different. According to the insiders, even if the contract clearly stipulates that penalty interest should be charged by some banks, customers can be exempted at last as long as they apply; even if the bank eventually charges penalty interest, the fee charged is very low, such as the interest of no more than one month. On the whole, the big banks in Beijing are very lenient and generous in dealing with prepayment.

Why does Suzhou now launch the new regulations on prepayment? The real estate industry insiders pointed out that in the second-hand housing market, landlords need to settle the housing loans on their hands before they can do the transfer of property rights. Therefore, the second-hand housing market has to do prepayment for the loan houses that have been transferred within five years. The implementation of Suzhou's new regulations on prepayment should crack down on the enthusiasm of speculative trading.

Yan Yuejin, research director of think tank center of Yiju Research Institute, believes that some commercial banks in Suzhou have standardized the early repayment policy, which is not only related to the bank's own business specifications, but also related to the active implementation of real estate regulation and control policies. This time, similar liquidated damages in Suzhou emphasize the situation of prepayment within 5 years. In fact, two considerations are taken into consideration: first, the bank's housing loan work needs to be stable and the bank's own housing loan business will be disturbed if the prepayment is continued. Second, the bank itself should also implement the real estate related regulatory policies. From the content of such policies, the prepayment part is related to practices such as real estate cash out, and such liquidated damages are also expected to form a similar effect of sales restriction, that is, the holding time of housing will be longer. In his view, such policies have no impact on the loan holders.