Suzhou issues new policy on housing provident fund: Down payment ratio reduced to 15%, supports withdrawal of housing provident fund for property fees.
The Housing Provident Fund Management Center of Suzhou City issued a notice on further expanding the scope of using housing provident funds. It mentioned that depositors who apply for housing provident fund loans to purchase their first or second self-occupied housing can have the corresponding loan times reduced if the house purchased with the original housing provident fund loan has been sold. The down payment ratio for using housing provident fund loans to purchase the first or second self-occupied housing of a family has been adjusted to not less than 15% of the total housing price. Depositors and their spouses who pay property management fees for self-occupied housing within the administrative area of this city can choose one of the family's housing to apply for the withdrawal of housing provident funds. In the twelve months before the application, there should be no withdrawal of housing provident funds. Only one withdrawal is allowed per year, with a total withdrawal amount not exceeding the actual payment of one year's property fee. The individual housing provident fund account must retain a deposit amount equivalent to at least one month's deposit based on the latest deposit base.
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