After Changshawan's "Ruifeng" was transferred from China Evergrande to its partner shareholder Dingpei Group, the mortgage plan promised by the developer has changed. Among them, the "Borrowing Plan" and the "interest-free and mortgage-free mortgage for the first two years" with high percentage rate mortgages , from 91% to 80%, about 20 prospective buyers lost their budget and faced the crisis of being unable to attend the meeting.
When the prospective buyer, Miss Li, paid a deposit of 450,000 yuan (5%) to purchase the "Ruifeng" unit the previous year, the staff repeatedly confirmed that the "Breathing Plan" was a "rental".
However, the contract does not specify the relevant mortgage commitment, but requires the buyer to complete the transaction even if the buyer cannot borrow money.
She criticized the contract as "the devil is in the details". The mortgage plan offered by the new developer was "spicier" than the bank. Many applicants were rejected, criticizing the misleading sales process and refusing to complete the transaction.
Tang Jiabiao, a member of the Legislative Council who assisted the victims, said that for the time being, about 20 victims have asked for help, and the deposits involved amounted to 10 million yuan.
He revealed that as early as May this year, he had met with the developer on behalf of the buyer, but the other party "won't give in an inch" and refused to refund the deposit. He urged the Consumer Council to intervene and use the litigation fund to help the owner file a lawsuit in court.
He also believes that the current government's supervision of mortgage programs such as the "Breathing Plan" is insufficient and requires the government to strengthen supervision.
The developer's staff once said that the "Breathing Plan" guarantees "lending"
Ms. Li, a prospective buyer of Ruifeng, said that she purchased the Ruifeng unit with the "Breathing Plan" in July 2020. At that time, the developer's staff confirmed that the "Breathing Plan" guaranteed "lending", and also pointed out that the mortgage company was a subsidiary of Evergrande , so as long as the buyer meets three conditions, including no bankruptcy record, a Hong Kong identity card and a work certificate, he can use the Breathing Plan, "so I am not afraid of fraud."
She said that there are "devil's detail clauses" in the contract, especially even if the buyer cannot "go to the meeting" to borrow money, the transaction must be completed. She stressed that when the documents were signed, the staff did not explain the relevant clauses.
She said that she had also applied for the mortgage plan offered by the new developer with other buyers earlier, but all the applications were rejected, and the other party all claimed that they were not eligible for the application.
Even if the developer later offered mortgage options offered by other financial companies, the approval terms were far stricter than those of banks. "Some buyers have mortgages approved by banks, but the developers have not been able to approve them for 10% of the time. It is 50% approved”, and the interest rate is also more expensive than when the unit was purchased, making the interest expense hundreds of thousands of dollars higher for the whole period.
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The unit trading period has passed Deng Jiabiao: breathing becomes suffocating
Miss Li continued to point out that the transaction period has now passed. In addition to the 450,000 deposit and tens of thousands of tax, a total of more than 500,000 yuan. She criticized the developer for being misleading during the sale of the unit, which caused the buyer to suffer losses, and stressed that she would not yield. .
Tang Jiabiao, a Legislative Council member who helped to follow up the case, said that it is estimated that at least 20 buyers have paid a 5% deposit, but the transaction could not be completed after the mortgage plan was changed. Having saved hundreds of thousands of savings to "get in the car", he is now in a dilemma, describing the prospective buyer as "from breathing to suffocation."
He said that he had met with the developer as early as mid-May and asked the other party to provide a 90% mortgage as much as possible, otherwise the prospective buyer would be asked to unconditionally unsubscribe, but the other party refused to give in an inch.
He also met with the First-hand Property Sales Supervision Bureau earlier, and the authorities have opened a file on this. Yesterday, he and the affected prospective buyers went to the Consumer Council for help yesterday (4th), hoping to facilitate mediation. If the mediation still fails, He suggested that the Consumer Council should use the litigation fund to help the affected prospective buyers and developers go to court.
Deng Jiabiao also mentioned that the current government's lack of supervision on home purchase loans has caused losses to first-time home buyers. He believes that the government launched the "Uncle Bo Plan" in February this year, which can achieve up to 90% of the mortgage, so that the mortgage can be returned to the banking system and avoid A bubble in the property market can also prevent developers from "saying they can't do it" on mortgages.
The "deadline" of the transaction date is approaching. The Consumer Council has followed up and received a lawyer's letter. If the transaction is not completed, the order will be cancelled and the interest will be recovered. Deng Jiabiao: Urge developers to return the deposit
