Beijing's bank defines "second" mortgage

时间：2007-11-05 08:05:48

（单词翻译:单击）

BEIJING, Nov. 4 -- The Bank of Communications (BOC)' Beijing branch has recently given its own definition of a "second" mortgage, which will base on the house property of the applicant1 rather than the applicant's family.

 

"In Beijing, we will examine whether the loan applicants2, either individual borrowers or co-borrowers, are trying to buy a second apartment," said Zhang Xin, an official in charge of the credit management with the BOC's Beijing branch.

 

"If any of the co-borrowers already has a house mortgage that hasn't been paid off, his new loan application will be considered as a 'second' mortgage. It means he will have to face a higher down-payment and interest rate," Zhang explained.

 

But he stressed that his bank will not check whether the applicant's spouse3 has already had an apartment unless the spouse is registered in the lending account as a co-borrower.

 

"Co-borrowers can be couples, parents and children, and sometimes even people of no kinship," he said.

 

What is a second mortgage has been a topic of controversy4 after the central bank decided5 to raise mortgage deposits for homebuyers who intend to buy a second apartment, a move aiming to curb6 speculation7 on property transactions.

 

In late September, the People's Bank of China, the central bank, and the China Banking8 Regulatory Commission jointly9 issued a new rule that requires mortgage holders10 who apply for another home loan to put a down-payment of at least 40 percent and pay a 10-percent premium11 on their interest rate.

 

For people seeking a third or fourth mortgage, the down-payment requirement and interest rate is even higher, with specific figures determined12 by commercial banks.

 

A hot debate has since been going on, as the regulators did not define a "second" mortgage, such as whether it regards a borrower and his family members as a whole unit or whether a borrower's families are immune from the new rule.

 

The authorities have left the right of definition up to banks themselves, since their situations on loans and local real estate markets differ, analysts13 said.

 

Lenders like China Construction Bank and Bank of China have taken a tougher line. They define a "second" mortgage based on the family unit, which means if, say, the husband has already applied14 for a mortgage and the wife applies for a new loan on another property they will have to offer a 40-percent down payment according to the new rule.

 

However, the BOC decided to allow its local branches to make their own definitions instead of giving a definitive15 definition.

 

"We have studied the new rule carefully. A second mortgage based on the individual or the family does not collide with it. Thus, we let local branches set their own standards of their practical needs to tighten16 supervision17 and prevent financial risks," said Qian Wenhui, vice18 president of the BOC.

 
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1 applicant 1MlyX     
n.申请人，求职者，请求者
参考例句：
  • He was the hundredth applicant for the job. 他是第100个申请这项工作的人。
  • In my estimation, the applicant is well qualified for this job. 据我看, 这位应征者完全具备这项工作的条件。
2 applicants aaea8e805a118b90e86f7044ecfb6d59     
申请人，求职人( applicant的名词复数 )
参考例句：
  • There were over 500 applicants for the job. 有500多人申请这份工作。
  • He was impressed by the high calibre of applicants for the job. 求职人员出色的能力给他留下了深刻印象。
3 spouse Ah6yK     
n.配偶(指夫或妻)
参考例句：
  • Her spouse will come to see her on Sunday.她的丈夫星期天要来看她。
  • What is the best way to keep your spouse happy in the marriage?在婚姻中保持配偶幸福的最好方法是什么？
4 controversy 6Z9y0     
n.争论，辩论，争吵
参考例句：
  • That is a fact beyond controversy.那是一个无可争论的事实。
  • We ran the risk of becoming the butt of every controversy.我们要冒使自己在所有的纷争中都成为众矢之的的风险。
5 decided lvqzZd     
adj.决定了的，坚决的；明显的，明确的
参考例句：
  • This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
  • There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。
6 curb LmRyy     
n.场外证券市场，场外交易；vt.制止，抑制
参考例句：
  • I could not curb my anger.我按捺不住我的愤怒。
  • You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。
7 speculation 9vGwe     
n.思索，沉思；猜测；投机
参考例句：
  • Her mind is occupied with speculation.她的头脑忙于思考。
  • There is widespread speculation that he is going to resign.人们普遍推测他要辞职。
8 banking aySz20     
n.银行业，银行学，金融业
参考例句：
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
9 jointly jp9zvS     
ad.联合地，共同地
参考例句：
  • Tenants are jointly and severally liable for payment of the rent. 租金由承租人共同且分别承担。
  • She owns the house jointly with her husband. 她和丈夫共同拥有这所房子。
10 holders 79c0e3bbb1170e3018817c5f45ebf33f     
支持物( holder的名词复数 )； 持有者； （支票等）持有人； 支托（或握持）…之物
参考例句：
  • Slaves were mercilessly ground down by slave holders. 奴隶受奴隶主的残酷压迫。
  • It is recognition of compassion's part that leads the up-holders of capital punishment to accuse the abolitionists of sentimentality in being more sorry for the murderer than for his victim. 正是对怜悯的作用有了认识，才使得死刑的提倡者指控主张废除死刑的人感情用事，同情谋杀犯胜过同情受害者。
11 premium EPSxX     
n.加付款；赠品；adj.高级的；售价高的
参考例句：
  • You have to pay a premium for express delivery.寄快递你得付额外费用。
  • Fresh water was at a premium after the reservoir was contaminated.在水库被污染之后，清水便因稀而贵了。
12 determined duszmP     
adj.坚定的；有决心的
参考例句：
  • I have determined on going to Tibet after graduation.我已决定毕业后去西藏。
  • He determined to view the rooms behind the office.他决定查看一下办公室后面的房间。
13 analysts 167ff30c5034ca70abe2d60a6e760448     
分析家，化验员( analyst的名词复数 )
参考例句：
  • City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
  • I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
14 applied Tz2zXA     
adj.应用的；v.应用，适用
参考例句：
  • She plans to take a course in applied linguistics.她打算学习应用语言学课程。
  • This cream is best applied to the face at night.这种乳霜最好晚上擦脸用。
15 definitive YxSxF     
adj.确切的，权威性的；最后的，决定性的
参考例句：
  • This book is the definitive guide to world cuisine.这本书是世界美食的权威指南。
  • No one has come up with a definitive answer as to why this should be so.至于为什么该这样，还没有人给出明确的答复。
16 tighten 9oYwI     
v.(使)变紧；(使)绷紧
参考例句：
  • Turn the screw to the right to tighten it.向右转动螺钉把它拧紧。
  • Some countries tighten monetary policy to avoid inflation.一些国家实行紧缩银根的货币政策，以避免通货膨胀。
17 supervision hr6wv     
n.监督，管理
参考例句：
  • The work was done under my supervision.这项工作是在我的监督之下完成的。
  • The old man's will was executed under the personal supervision of the lawyer.老人的遗嘱是在律师的亲自监督下执行的。
18 vice NU0zQ     
n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的
参考例句：
  • He guarded himself against vice.他避免染上坏习惯。
  • They are sunk in the depth of vice.他们堕入了罪恶的深渊。

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