Recently, there has been a very lively discussion on the “no-privileged” web. So, what's "no-privileged"? Do you understand what this policy means

What do you mean, we don't have a mortgage

The term “recognition” means that, irrespective of whether the purchaser has a loan record, the purchaser can apply for a loan under the first flat as long as he can prove that he does not have any other property in his name. On the other hand, if the property already exists in the name of the purchaser, whether or not the loan has been made and whether or not it has been repaid, it will be considered as the purchase of the second flat, which is approved according to the corresponding criteria。

This policy is very friendly to home buyers who wish to improve their living conditions. Even if the buyer had previously recorded a loan for the purchase of the house, it would be possible to apply for a loan for the purchase of the house in the current name, in accordance with the first flat standard. This approach helps to increase the mobility of properties and to promote market dynamism。

SO HOW DOES THIS POLICY AFFECT FRONT-LINE CITIES? IN THE CASE OF BEIJING, FOR EXAMPLE, THE CURRENT HOUSING PURCHASE POLICY IN BEIJING IS “RECOGNIZING AND LENDING”. THIS MEANS THAT, AS LONG AS THE PURCHASER HAS A FLAT IN HIS NAME OR AN OUTSTANDING LOAN RECORD EXISTS THROUGHOUT THE COUNTRY, THE REPURCHASE WILL BE CONSIDERED A SECOND PURCHASE. IN THIS CASE, THE DOWN PAYMENT RATE AT THE TIME OF THE REPLACEMENT WAS AS HIGH AS 80% AND THE MORTGAGE RATE WAS 5.25%。

IF THE CURRENT POLICY IS ABOLISHED AND REPLACED BY “NO-PRIMATION”, THE DOWN PAYMENT RATIO WOULD BE ADJUSTED TO 35% AND THE INTEREST RATE ON THE MORTGAGE WOULD BE REDUCED TO 4.75%. THIS WILL NO DOUBT SIGNIFICANTLY EASE THE PRESSURE ON SOME HOME BUYERS TO MAKE HOUSING IMPROVEMENTS EASIER FOR MORE PEOPLE。

It is hoped that this will help you。