Chuzhou, Anhui: Increase the loan limit for green building provident fund by 20%

Source: Chuzhou Housing Provident Fund Management Center Network

According to the website of Chuzhou Housing Provident Fund Management Center, on the 26th, Chuzhou Housing Provident Fund Management Center in Anhui Province issued the Notice on Strengthening the Use and Management of Housing Provident Fund (hereinafter referred to as the Notice), which mentioned that it supports the withdrawal of housing provident fund to directly pay down payment for the purchase of new commercial housing. Support the purchase of green buildings with housing provident fund loans, and purchase of residential green buildings (new commercial housing) of one star or above in the administrative region of Chuzhou City. If the housing provident fund loan conditions are met, the housing provident fund loan amount can be increased by 20%.

The notice includes two aspects: strengthening the management of housing provident fund loans and strengthening the management of housing provident fund withdrawals.

In terms of strengthening the management of housing provident fund loans, the Notice mentions:

（1） Support the use of housing provident fund loans to purchase green buildings

If the purchase of one star and above residential green buildings (new commercial housing) in the administrative area of Chuzhou City meets the conditions of housing provident fund loan in Chuzhou City, the housing provident fund loan amount can be increased by 20%.

The confirmation of green buildings shall be subject to the Certificate of Joint Review of Construction Drawing Design Documents of Chuzhou Housing Construction, Municipal Infrastructure Engineering and Civil Air Defense Engineering provided by the real estate development enterprise or the relevant identification materials of green buildings issued by the housing construction department.

（2） Further improve the management of converting commercial personal housing loans into housing provident fund loans

For business to business loans, the original commercial individual housing loan issuing bank is no longer limited to the entrusted bank of Chuzhou housing provident fund loan business. The original commercial individual housing loan issuing bank is not the entrusted bank of Chuzhou housing provident fund loan business, and the commercial to public loan handling bank should be the entrusted bank of Chuzhou housing provident fund management center.

In terms of strengthening the management of housing provident fund withdrawal, the Notice mentions:

（1） Regulations on Adjusting the Time for Drawing Housing Provident Fund for Home Purchase

If the depositor purchases self occupied housing, they can apply for withdrawal in one or multiple installments within two years.

（2） Adjusting the withdrawal scope before the settlement of housing provident fund loans

Before the settlement of the housing provident fund loan, the depositor can apply to withdraw the housing provident fund to purchase self occupied housing or repay the housing loan.

（3） Further clarify the withdrawable amount of housing provident fund for repaying the principal and interest of housing loans

If the depositor repays the principal and interest of the self occupied housing loan and withdraws the housing provident fund, they may apply for withdrawal in one or multiple installments, and the cumulative withdrawal amount shall not exceed the total principal and interest of the repaid loan (excluding penalty interest incurred due to overdue loan).

The portion of the principal and interest of the repaid loan that exceeds the balance of the housing provident fund account can be accumulated and included in the next withdrawal; If the loan is repaid in advance, the loan principal and interest exceeding the balance of the housing provident fund account in the current month can still be withdrawn in subsequent months or years.

The portion of the principal and interest of the loan that has been repaid before the date of execution of this notice that exceeds the balance of the housing provident fund account will not be supplemented.

（4） Increase the frequency of rental extraction

If the depositor has no self owned housing in Chuzhou City to apply for rent withdrawal, it is no longer restricted to apply for withdrawal every six months. It can be withdrawn once a year or in batches, and once a month. The cumulative withdrawal amount does not exceed the annual maximum rent withdrawal amount.

（5） Support the withdrawal of housing provident fund for direct payment of down payment for purchasing new commercial housing

If the depositor purchases new commercial housing in the administrative area of Chuzhou City, he or she can apply for withdrawing the balance of his or her spouse's housing provident fund account to directly pay the down payment for purchase.

At the same time, the "Notice" clearly states that the notice will be implemented from July 26, 2023.