The business routine of ＂lending to reduce interest rates＂ for mortgage loans has been refurbished, and many banks have prompted the risks of loan intermediaries.

"Houses in the whole region can operate at an annual rate of 3.2%" and "after the holiday, the interest rate on loans is as low as 2.9%". After the interest rate cut on existing mortgages, some loan intermediaries "renovated" their routines on social platforms and continued to attract customers with low-interest gimmicks.

Zhuoling (pseudonym), the owner of a new site in a town in Dongguan, Guangdong Province, has recently received similar "lending" business calls. He told reporters that most of these calls claimed to be the channel manager of a bank at the beginning, introducing "internal" or "year-end welfare" loan products, saying that these products have internal approval channels and can also be used to help mortgage loans cut interest rates again.

But in fact, these loan intermediaries are not related to banks, but induce consumers to carry out a series of illegal operations under the layers of internal approval, high and low interest. Recently, banks in Henan, Hubei, Guizhou and other places issued statements to remind consumers of the risks of loan intermediaries, and denied cooperation with intermediaries in loan business.

"Renovation" Routine of Lending Intermediary

Recently, the First Financial Reporter contacted a number of loan intermediaries in Guangdong on the grounds of consulting business, and found that behind the "lending and interest rate reduction" business provided by some intermediaries, mortgage loans were actually converted into business loans, that is, consumers were guided to use bridge funds to settle their mortgages, and then their houses were mortgaged to banks in the name of corporate legal persons and shareholders, and business loans were lent to banks.

These institutions take "loan interest rate reduction" as the main gimmick to attract customers. In an interview in March this year, the above-mentioned loan intermediaries advertised that the annualized interest rate of operating loans after lending was mostly between 3.4% and 3.8%, but in recent interviews, they claimed that the annualized interest rate of operating loans could be applied for below 3%.

"Recently, the market as a whole has cut interest rates, and the operating loan interest rate has been further lowered, which is a good opportunity for lending." An intermediary of a lending institution in Guangzhou told reporters that if the mortgage is 2.3 million yuan and the annualized interest rate is 4.5%, it can be adjusted to 2.9% after the interest rate cut, and it can save 33,000 yuan a year, which can save nearly 900,000 yuan in interest.

She introduced that at present, her institution can contact the bank to plan two types of business loans: 10-year interest first, then principal, and 20-year equal repayment, with interest rates of 2.9%. However, after specific consultation, the reporter found that even if the series of conditions are met, the real interest rate is between 3.1% and 3.3%.

In addition to low interest rates as a gimmick, some loan intermediaries also took advantage of the opportunity to lower the interest rate of existing mortgage loans, trying to mislead customers by packaging the official identity of banks and confusing concepts.

One of them, Yue Qiu (a pseudonym), a loan intermediary who claimed to be the channel loan staff of the state-owned bank, told reporters that they had "internal relations" in the bank and could lower the mortgage interest rate on the current basis. At the same time, there will be a special person to follow up, which can help customers speed up the approval of bank loan applications and follow up the prepayment process when handling the related business of "lending and interest rate reduction", thus controlling the cost of bridge-crossing funds.

"We have banking channels. After you submit an application for prepayment, we can help you to expedite it." According to him, they will also confirm the operating loan amount that can be applied for in the new bank through the information of the real estate license. If customers need it, they can also help to raise the price of real estate assessment for "over-lending", and besides covering the amount of repayment in advance, they can also make some extra funds.

The reporter verified the above statement with the financial manager of a branch of a state-owned bank in South China. The financial manager said that the bank’s prepayment and lending processes usually have specific approval links, so it is difficult to directly interfere. Many promises of these loan intermediaries are basically "fudge". Most of them are only familiar with the operation procedures and loan policies of banks, and use this to guide consumers to conduct illegal operations, and the ultimate risk will still be borne by consumers.

There are many risks.

Why are some loan intermediaries still recommending the "lending" business after the interest rate cut of existing mortgage loans? Many insiders believe that it is mainly related to the existing spread space.

The above-mentioned Guangzhou loan intermediary said that although some customers stopped lending plans after the interest rate reduction of existing mortgage loans, the operating loan interest rate has also been declining recently, and the preferential strength is strong, and there is still a spread between the interest rate and the lowered mortgage interest rate.

Lou Feipeng, a research institute of China Postal Savings Bank, said that most residential mortgage loans in China are long-term loans, and the interest rate is based on 5-year LPR (loan market quoted rate), while operating loans are mainly short-term loans, and the interest rate is based on 1-year LPR. The five-year LPR is higher than the one-year LPR. At the same time, for the purpose of supporting the development of small and micro enterprises, the interest rates of operating loans and consumer loans are lower, further expanding the arbitrage space.

However, it is worth noting that behind the seemingly "arbitrage", there are many hidden costs and risks hidden in the lending business.

Zhuo Ling told reporters that when communicating with a number of intermediaries until the signing of the contract, he found that the actual interest rate reduction was not as cost-effective as expected, and there were many extra costs. On the one hand, the cost comes from "crossing the bridge" funds. According to the process, consumers need to use the bridge funds provided by the intermediary to settle the mortgage, and then go to the bank to apply for operating loans and return the bridge funds.

However, because the loan period is usually more than a week, or even as long as several months, the capital cost of crossing the bridge is not low. According to Zhuo Ling, at present, the daily interest rate of intermediary funds in the market is usually around "five thousand" (that is, five ten thousandths), which means that if you want to replace a 2.3 million yuan mortgage, you need to pay 1,150 yuan interest every day, and the interest for one month may be as high as 30,000 to 40,000 yuan.

On the other hand, these institutions usually charge a high service fee. The reporter contacted a number of intermediaries and found that the service fee is basically more than one point. For example, for a lending order of 1 million yuan, the service fee is at least about 10,000 yuan. In the process of borrowing business loans, if there is no business owner qualification or does not meet the corresponding requirements, "packaging" will require additional fees.

In addition to the high cost, the loan term is shorter after "lending", and the monthly supply pressure may increase instead of decreasing. A Dongguan owner who handled the re-lending business last year told the reporter that he changed the mortgage with an interest rate of 5.8% to a business loan of 3.8% at that time. The original loan was 3 million yuan, and the repayment was made by the equal principal and interest method for 30 years, with a monthly payment of more than 17,000 yuan. After being converted into a 10-year operating loan, it will pay back about 30,000 yuan per month. At the same time, it is also necessary to bear the risk of "lending". Once the bank examines that funds flow into the housing market illegally, it is necessary to fill the loan gap in a short period of time.

"The operation of lending to reduce interest rates is meaningless and risky." Yan Yuejin, research director of Yiju Research Institute, told the First Financial Reporter that such operations of transforming traditional mortgage business into business loans will "package" buyers as business owners. However, there are several problems. First, this kind of "packaging" also requires costs. Second, the operating loan period (mostly) is only 1-10 years, so the pressure of monthly loan repayment actually increases. Third, the post-loan inspection of banks will be stricter.

Regulators and banks have repeatedly warned.

Recently, banks in Henan, Hubei, Guizhou and other places have issued statements to remind consumers of the hidden risks in "lending to reduce interest rates" and handling loans, and at the same time stressed that bank loans have not cooperated with intermediaries.

For example, on October 7th, China Bank Guizhou Branch issued a notice in Guanwei, saying that illegal loan intermediaries would pretend to be "xx Bank" and "xx Bank Loan Center" to publish loan advertising information, or push the loan amount to consumers, claiming that "they have connections within the bank" and "they can apply for loans through internal processes" to trick consumers into handling loans through them. In fact, such intermediaries have nothing to do with banks, but only to trick borrowers into making false propaganda.

Dancheng Rural Credit Cooperative said in the announcement on October 7 that it has never cooperated with any intermediary agency or individual in loan intermediary business, nor has it authorized any third-party company or platform to carry out loan business; In the process of handling the loan business, no fees such as agency fee, service fee and mortgage registration fee are charged, except as stipulated in the contract.

In addition to banks, regulators have recently issued risk warnings. Ningxia Supervision Bureau of the State Financial Supervision and Administration Bureau issued a risk warning on preventing illegal loan intermediaries from infringing on the legitimate rights and interests of financial consumers in early October, which reminded consumers to enhance their awareness of risk prevention, be wary of unfamiliar phone calls or text messages to promote loan business in the name of "low interest and quick" and "approved loan amount", and do not provide sensitive personal information to others at will or authorize others to handle financial business at will.

As early as the end of 2022 and the beginning of 2023, the supervision focused on a round of rectification of loan intermediaries. At the end of 2022, the former China Banking and Insurance Regulatory Commission issued a risk warning that some unscrupulous intermediaries explored "business opportunities" and introduced mortgage loans to consumers. This operation of replacing mortgage with business loan hides risks such as illegal breach of contract, high charge trap, influence on personal credit information, capital chain break and infringement on information security. On February 2 this year, Shenzhen Real Estate Agency Association issued the "Solemn Reminder on Prohibiting Real Estate Agencies and Employees in the City from Participating in the Illegal Use of" Business Loans "; On February 13th, Liaoning Banking Insurance Regulatory Bureau issued "Risk Tips on Early Repayment of Loans or Lending", giving tips on the risks of operating loans and the norms of intermediary institutions.

Yan Yuejin believes that this kind of loan business is illegal in itself, and all localities still need to strengthen publicity, especially to strengthen the inspection of enterprise operation, to prevent all kinds of shell companies from taking such loan funds, and at the same time to increase control over intermediaries.