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What Influence Will New Housing Fund Policies Have on Citizens?
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September 21 was the first day of Taizhou’s adjustments to the housing provident fund policies. The policy of “recognizing both property and loan” was launched and restrictions were also added to cross-regional loan repayment and fund withdrawal. What impact will new policies have on citizens?

On the morning of September 21, Mr. Chen visited the Administrative Service Center of People’s Government Taizhou City for information concerning businesses of housing provident fund loan. Mr. Chen recently bought a house and hadn’t handled the loan yet. Hearing of the policy change, he was afraid that loan application could be influenced.

Staff at the service window explained, “As he personally owns two house properties, according to the principal of recognizing the property, he wasn’t qualified to handle housing provident loan. However, they weren’t forward-delivery houses and the purchase contracts were signed long ago, so it is subject to the original policy and won’t be influenced by the new ones.” Though new policies have come into effect, it remains subject to original policies as regard for time of signing the purchase contract when buying new commercial houses and time of second-hand real estate registration (beforehand transaction registration) before September 21.

According to new policies, there were also changes in the minimum down payment proportion of worker family’s first and second residence houses. For instance, the minimum down payment rate of the first house was changed from 20% to 30%, which means citizens using pure housing fund loan have to pay more. However, staff said, for citizens using subsidized commercial loans, the down payment rate has long been 30% and higher. Besides, those buying houses of rigid demand mainly choose the combo loan with a minimum rate of 30%. Thus, there won’t be significant influence.

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