The Consumer Council today (15th) released a survey to collect information on 78 mortgage plans from 18 banks. Among them, the prime interest rate (P mortgage) has an effective interest rate ranging from 2.5% to 2.96%, and the Hong Kong Interbank Offered Rate (H mortgage) The effective interest rate ranges from 1.36% to 1.71%.
According to the Consumer Council, if calculated in a unit of 8 million yuan, if you compare the lowest P and H interest rates on the same day, the difference in total interest will be up to 92%.
The Consumer Council also counted the mortgage discounts offered by 18 banks. Among them, Fubon Bank’s cash rebate was up to 1.4%, and there was free second-year fire insurance. BEA’s cash rebate also reached 1.4%, but only for 6 months. Free fire insurance.
The Consumer Council compared the mortgage plans of 18 banks.
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The Consumer Council collected information from 20 local banks on mortgage plans for newly built houses or independent parking spaces, and 18 banks responded.
The Consumer Council compared a total of 78 mortgage plans from 18 banks and counted the discounts of each bank. The cash rebate from Bank of East Asia and Fubon Bank was up to 1.4%. Fubon Bank also gave free fire insurance for the second year and a 3-year credit card. The annual fee is waived, while the Bank of East Asia offers 6 months of free fire insurance, and the annual credit card fee is waived during the mortgage period.
For the mortgage plan under investigation, the effective interest rate of the prime rate (P mortgage) ranges from 2.5% to 2.95%, and the effective interest rate of the Hong Kong Interbank Offered Mortgage Plan (H mortgage) ranges from 1.36% to 1.71%.
The Consumer Council took a unit of 8 million yuan and a mortgage period of 25 years as an example. Assuming that the mortgage interest rate remains unchanged for the whole period, the highest and lowest P on the same day are calculated based on the interest rate. The total interest expense is $3,321,020 and $2,768,577 respectively, a difference of 20% between the two; The highest and lowest H are calculated based on interest rates, and the total interest expenses are $1,838,137 and $1,442,197 respectively, which can differ by 27%.
If you compare the lowest P and H interest rates on the same day, the total interest expense differs by nearly 92%.
The Consumer Council uses a unit of 8 million yuan with a mortgage term of 25 years as an example. Assuming that the mortgage interest rate remains unchanged for the entire period, comparing the lowest P mortgage and H mortgage interest rates on the same day, the total interest expense is nearly 92% different.
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The developer's mortgage plan has high interest rates and the total interest expense difference is 3 times
The Consumer Council also compared the mortgage plans offered by developers who pre-sold uncompleted flats. They pointed out that developers usually offer more discounts to buyers who start to make payments before the completion of the building, but it should be noted that the mortgage plan does not include the price of 6 million. For uncompleted units above RMB yuan and immediate payment, the purchaser's mortgage percentage will be reduced, that is, the first installment amount will be larger.
According to the Consumer Council, the mortgage plan offered by developers generally reaches 80% to 90%, but the interest rate is higher than that of bank mortgages. Taking a unit that sells for about 13 million yuan as an example, the mortgage rate of developers reaches 80%, while banks’ Only 60%, but due to higher interest rates, the total interest expense is three times different.
The mortgage rate of the developer's mortgage plan is relatively high, but due to the high interest rate, the total interest expense is also relatively high.
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