Why don't developers allow provident fund loans?

1, loan to buy a house, for developers, the final payment is recovered through the bank.

And countless forehead losses.

2. However, the provident fund loan needs to be approved by the provident fund management center before it can be paid to the developer through the bank.

This process is much longer than that of commercial loans directly lent by banks, and the process and procedures of recovering funds are numerous and lengthy.

3. So some developers have such additional restrictions because they need funds or the speed of withdrawing funds.

This is not illegal, just like shopping at ordinary times, some businesses only support cash payment, not credit card payment.

Extended data:

Provident fund loan

Provident fund loans refer to loans enjoyed by employees who pay housing provident fund. According to national regulations, all employees who have paid housing provident fund can apply for individual housing provident fund loans according to the relevant provisions of provident fund loans.

20 12 Some cities relaxed the conditions of provident fund loans, and the upper limit of housing provident fund loans in 9 counties of Linyi City, Shandong Province was raised from 200,000 yuan to 300,000 yuan from June 1.

20 14- 10, the Ministry of Housing and Urban-Rural Development, the Ministry of Finance and the Central Bank issued a document, including relaxing the conditions of provident fund loans, promoting loans from different places, reducing intermediate costs, canceling the housing provident fund personal housing loan insurance, notarization, new house evaluation and compulsory agency guarantee, and reducing the burden on loan workers.

Among them, employees who have paid for 6 months can apply for provident fund loans (currently 12 months). ?

On August 15, 2008, the Ministry of Housing and Urban-Rural Development jointly issued a notice saying that the down payment for purchasing a second home with provident fund loans will be cancelled by 20% from September 15 and 1 day!

1. Only employees who participate in the housing provident fund system are eligible to apply for housing provident fund loans, and employees who do not participate in the housing provident fund system cannot apply for housing provident fund loans.

2 to participate in the housing provident fund system to apply for housing provident fund personal housing loans must also meet the following conditions:

That is, the time for continuous deposit of housing provident fund before applying for a loan is not less than 6 months.

Because, if the employee's behavior of paying housing provident fund is abnormal and intermittent, it means that his income is unstable and he is prone to risks after issuing loans.

3. One of the husband and wife has applied for a housing provident fund loan, and neither of them can get a housing provident fund loan until the principal and interest of the loan are paid off.

Because the housing provident fund loan is a kind of "housing security" financial support to meet the basic housing needs of workers' families.

4. When applying for a housing provident fund loan, the loan applicant must have a relatively stable economic income and repayment ability, and there are no other outstanding debts that may affect the repayment ability of the housing provident fund loan.

When employees have other debts, it is risky to lend to housing provident fund, which violates the principle of safe operation of housing provident fund.

5. The term of the provident fund loan shall not exceed 30 years.

For portfolio loans, the loan conditions of provident fund loans and commercial housing loans must be the same.

References:

Baidu encyclopedia-provident fund loan