Changshawan Ruifeng (formerly known as Evergrande Ruifeng), which was originally held by China Evergrande (3333) and has been transferred to its partner shareholder Dingpei Group, has been delayed by half a year to early June this year.
A group of homeowners who originally used the "Borrowing Plan" and "interest-free mortgage for the first two years" (90% mortgage) provided by the original developer with a high percentage rate mortgage (90% one mortgage), after the transfer of the project, only the current developer provides 80% of the mortgage. With one click, some owners lose their budget and need to pay an additional 10% for the down payment or find a guarantor to attend the meeting, and face the risk of being killed at any time.
About 30 small property owners have sought help from the Consumer Council, Primary Property Sales Supervision Bureau, Lands Department and Customs, etc. to no avail. Today (14th) a press conference was held to ask the government to intervene, and at the same time, they demanded to terminate the contract with the developer and return the deposit in full and non-recoverable interest.
Customs did not follow up on the grounds that "the building is not a commodity"
One of the sufferers, Ms. Chen, said that when she purchased Ruifeng at the end of 2019, the real estate salesperson said in a relaxed tone that the mortgage arrangement was a "breathing plan, as long as there is breathing, I will borrow it from you", and even stated that there is no need for a stress test.
As far as she knows, there were about 160 buyers who used the related subcontracted mortgages at that time, but so far only 18 owners have successfully applied for the related subcontracted mortgages for 90% of the mortgages, and most of the remaining owners have to face the risk of being killed.
She also pointed out that the miserable owners have contacted 10 government departments and 12 parliamentarians, but have not heard back. She also pointed out that they had made inquiries to the customs, but the customs staff did not follow up the incident on the grounds that "the building is not a commodity".
She believes that many owners have paid an expensive stamp duty, and she bluntly does not understand "I don't know how expensive it is to pay."
She also revealed that if she adopted the latest mortgage arrangement provided by the developer, the individual would need to pay an additional 10% down payment, involving about 700,000 to 800,000 yuan, which the individual could not afford, and his personal income was insufficient to meet the contribution Income ratio 50%.
Ms. Chen said (second from the right) that when she purchased Ruifeng at the end of 2019, the real estate salesperson said in a relaxed tone that the mortgage arrangement was a "breathing plan, as long as there is breathing, I will borrow it from you", and even stated that there is no need for a stress test.
(Photo by Cai Weinan)
Being required to add a guarantor or pay an additional 10% of the down payment
As for another bitter owner, Ms. Xu, said that 90% of the mortgage applications were rejected, and she was notified that "a guarantor may be added or more down payments". If the transaction is not completed on time, the order will be cancelled and the interest will be charged. She feels that Hesitant and helpless, he was also worried that the first installment of his hard-earned money would be confiscated, and he had thoughts of suicide.
She also pointed out that the mortgage arrangements currently provided by the developer have completely different terms from the initial purchase of the property, and are more rigorous. The individual (economic ability) will definitely not meet the requirements, and she is considering borrowing money from a financial company or a friend, or asking a friend to do so. Guarantor, mental pressure exploded, unexpectedly the developer would violate the promise at that time.
Mr. Du, the bitter owner, said that the mortgage arrangement provided by the developer is completely different from the original one. The current 80% first mortgage and 10% second mortgage are completely different from the original 90% one mortgage. .” He also pointed out that there are still about 30 to 40 people who have failed to apply for mortgages.
More than 30 small property owners have held a press conference today (14th) to ask the government to intervene after they had sought help from the Consumer Council, the First-hand Property Sales Supervision Bureau, and the Lands Department.
(Photo by Cai Weinan)
"High-percentage mortgage" and "interest-free mortgage-free for the first two years" are touted when launching the market
It is understood that when Ruifeng launched the sale in December 2019, the developers offered "high-percentage mortgage" and "interest-free mortgage for the first two years" respectively. One of the mortgages is as high as 90% of the property price, that is, the buyer only needs to You can get on the car as soon as the first installment is completed.
Later, Evergrande experienced financial difficulties, and the project was resold to Dingpei Group in October last year. At the same time, the key date originally scheduled for October last year was postponed for at least half a year. At that time, some owners could not apply for the Chuangying, a financial company under Evergrande. Mortgage with high percentage, facing the risk of not being able to attend the meeting or being forced to settle.
By mid-February of this year, the financial company Chuangying changed the payment terms, stating that it would continue to provide buyers with a high-percentage mortgage of 90% and amortize the repayment over 30 years. As long as the payment does not exceed 70% of the income, it can be approved.
However, interest-free for the first two years was canceled, and the interest-free for the first year, and the interest rate for the second to three years was 2.5%, and then the interest rate was increased to 8%.
The latest situation of the existing building of "Ruifeng" in Cheung Sha Wan
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After Ding Pei took over the mortgage to the maximum 80%, the interest rate increased to 8%
However, if another owner's application for the above-mentioned mortgage plan is rejected, Dingpei Group, which took over the project, will provide them with a new mortgage plan. It is suggested that the rejected owner can apply for a mortgage from "Hong Kong Financial Capital Group Co., Ltd.". The applicant can only borrow Take an 80% mortgage, interest-free for the first year, 2.5% for the second year, and 5.5% for the full term thereafter, but the maximum loan term is only 25 years.
The plan is obviously more rigorous than that provided by the financial company Chuangying, and the LTV ratio is also significantly lower by 10%.
The developer announced last month that Ruifeng has successfully obtained the Certificate of Satisfaction and is expected to send a letter in May this year to notify the buyer to move in, and the remaining units in the project are also ready to be put up for sale as existing buildings.
Cheungsha Wan Ruifeng has been approved as a satisfaction certificate as soon as May, the building will be repossessed and the goods will be put on sale in the form of the existing building. Changsha Wan "Evergrande. Ruifeng" renamed as "Ruifeng" Ding Pei took over the Changsha Wan Evergrande. Ruifeng Christmas Eve Before paying the four major agency banks 17 million commissions, Ding Pei bought Evergrande.
Ruifeng also made a promise
