In order to support the stable and sound development of real estate market, Deyang Municipality has issued the Notice on Housing Provident Fund Policies to Support Real Estate Market under COVID-19 Epidemic, so as to fuel the sound development of real estate market from three aspects, namely lower margin ratio, properly loose loan policy and shorter time for loan approval.

A lower margin ratio for promoting development of real estate enterprises. The minimum margin ratio will drop from 3%-5% to 2%-5% for the new housing development project whose land is not mortgaged. For the project whose land is mortgaged, the ratio drops from 5%-8% and 6%-10% to 4%-8% and 5%-10% respectively according to the developer's qualification or development size. For the finished housing project, a loan will be immediately granted with no cash security required after the finished housing is mortgaged. Moreover, the time limit for approving real estate project is shortened from 10 working days to 6 days. When an application for pre-sale permit of the housing project is submitted, the housing provident fund center can simultaneously handle the loan application and perform risk assessment.

Properly loose loan policy for stimulating housing consumption. The loan computing formula will be adjusted during COVID-19 epidemic. The loan of the housing provident funds in both Chengdu and Deyang will have the integrated policies of one city. The margin reduction amount for loans overdue will be lowered, and the margin reduction will be exempted for loans overdue for less than 3 installments (inclusive). Furthermore, a new loan can be applied for the second housing upon the settlement of the loan of the first housing, instead of six month after the settlement previously.

Higher efficiency for shorter loan approval. The time for loan approval will be shortened from 8 working days to 6 days. (Reporter: Qin Qin)