Financial Networknews On February 5, the Housing Provident Fund Management Center of Weihai City, Shandong Province issued the “Notice on Adjusting the Policy on the Use of Housing Provident Funds” (hereinfollowing referred to as the “Notice”).
The “Notice” clearly reduces the down payment ratio for the first home. The down payment ratio for the purchase of the first set of self-occupied housing to apply for a provident fund loan has been reduced from 30% to 20%; the loan amount for families with multiple children has been increased. The maximum loan amount for self-occupied housing for families with a second child and above is increased by 100,000 yuan.
The “Notice” proposes to relax the time limit for loan application and deposit. The payment and deposit time limit for employees to apply for provident fund loans has been relaxed from 12 consecutive months to 6 months; the conditions for business-to-public loan applications have been relaxed. The business-to-public loan cancels the limit of no more than three years for commercial housing loans, and adjusts it to apply following obtaining the housing real estate title certificate.
In addition, the “Notice” clearly supports the withdrawal of the provident fund for the down payment. Employees can withdraw the provident fund following paying the down payment for newly purchased self-occupied housing in Weihai City, and can apply for provident fund loans at the same time; increase the amount of the provident fund for renting houses. New citizens, young people and other homeless workers rent a house to withdraw the amount of provident fund from a maximum of 9,600 yuan per person per year to 12,000 yuan.
