I. Scope of Application:
This guide applies to employees who contribute towards the housing provident fund on a regular basis, including individual businesses and their employees, part-time employees, and other workers engaged in flexible employment who contribute towards the housing provident fund in Shanghai, as well as employees who contribute towards the housing provident fund in other provinces and cities, and who want to apply for housing provident fund loan for purchasing self-occupied housing with ownership in the administrative area of Shanghai.
II. Service Conditions:
(I) Conditions for loan applicants and co-applicants:
1. The loan applicants and co-applicants are employees who contribute towards the housing provident fund on a regular basis, including individual businesses and their employees, part-time employees, and other workers engaged in flexible employment who contribute towards the housing provident fund in Shanghai, as well as employees who contribute towards the housing provident fund in other provinces and cities;
2. Employees who contribute towards the housing provident fund on a regular basis in other provinces and cities should first provide the Proof of Housing Provident Fund Contributions and Use for Employees Applying for Non-local Loan or the Personal Information for Handling Housing Provident Fund Business and have them examined, and comply with the regulations for non-local loan;
3. The loan applicants and co-applicants should meet the conditions stipulated in the national and this city’s real estate regulatory policies;
4. The loan applicants and co-applicants should have full capacity for civil conduct;
5. The loan applicants and co-applicants should be over 18 years old and have not reached the statutory retirement age (60 years old for men and 55 years old for women);
6. The loan applicants and co-applicants have only one housing provident fund account and the account is not frozen. The contributions to the housing provident fund have been continuously made in full for the prescribed six months, and there is no unterminated agreement on withdrawal of the housing provident fund (including but not limited to agreement on withdrawal of the housing provident fund for loan repayment, agreement on withdrawal of the housing provident fund for rent payment, and agreement on withdrawal of the housing provident fund for other housing expenses);
7. The loan applicants and co-applicants have a good credit record and willingness to repay;
8. The loan applicants and co-applicants have a stable and legal source of income and the ability to repay the principal and interest of the loan, and the applicant’s family or co-applicant’s family have no outstanding housing provident fund debt or other debts that may affect the repayment of the provident fund loan;
9. The loan applicant’s family and co-applicant have no housing provident fund loan or used to have the loan for only once in the country;
10. The loan applicant must be the owner of a self-occupied house with ownership in this city and be able to provide the house purchase contract or supporting documents, identity documents, down payment certificate, and other materials that meet the regulations;
11. A down payment of no less than the prescribed proportion has been paid;
12. The loan applicants and co-applicants are able to provide a guarantee method recognized by the Shanghai Provident Fund Management Center;
13. The loan applicant’s own share of the collateral shall not be lower than the average share of all property owners;
14. The loan co-applicant should be the applicant’s spouse, parent, or child;
15. The loan co-applicants should jointly repay the housing provident fund loan;
16. The loan applicants and co-applicants should also meet the other conditions stipulated by the Shanghai Housing Provident Fund Management Committee or the Shanghai Provident Fund Management Center.
(II) The applicants and co-applicants will not be granted a loan if:
1. The credit transactions in the personal credit report of the Credit Reference Center of the People’s Bank of China are currently overdue and have not yet been repaid;
2. There are overdue credit transactions for six (included) consecutive periods or a cumulative total of more than 12 (included) periods in the past five years;
3. They are included in the list of persons who are judgment debtors subject to enforcement;
4. They provide false information, make false promises, etc.;
5. They have fraudulently obtained the housing provident fund by forging contracts, issuing false certificates, fabricating false leases, etc. in the past three years, or have obtained housing provident fund loan through deception or committed other types of seriously dishonest conduct in the past five years;
6. There is outstanding housing provident fund loan or record of two or more housing provident fund loans nationwide;
7. The applicant’s family (the applicant, his or her spouse, and their minor children) has purchased a second non-improved house, a third one or more;
8. The house purchased is for non-residential purposes or only a partial property share of the house is purchased (except for government-subsidized housing with shared property rights);
9. There is unsettled Proof of Housing Provident Fund Contributions and Use for Employees Applying for Non-local Loan for employees applying for local loan. For example, the Proof is marked as uncancelled, having no receipt, or having receipt of loan granted but no settlement voucher;
10. There are other circumstances that may affect the safety of housing provident fund loan.
III. Application Materials:
1. Shanghai Housing Provident Fund Personal Housing Loan Application Form, List of Applicant and Family Members & Housing Location, and Letter of Authorization for Property Inquiry filled out by the applicant and co-applicant.
2. Letter of Authorization for Personal Credit Information Inquiry and Shanghai Housing Provident Fund Personal Housing Loan Statement and Letter of Authorization filled out by the applicant and co-applicant.
3. Identity proof documents and household registration certification: Including original ID cards of the loan applicant and their spouse, the co-applicant and their spouse, the property co-owner and their spouse (a birth certificate should be provided if there is a minor in the applicant’s family), the original and copy of the household registers of the loan applicant and their spouse, the co-applicant, and the property co-owner; people from Hong Kong, Macao, and Taiwan should provide the originals of the Mainland Travel Permit for Hong Kong and Macao Residents, the Mainland Travel Permit for Taiwan Residents or the Residence Permit for Hong Kong, Macao and Taiwan Residents; expatriates and those who have obtained permanent (long-term) residency abroad should provide the original passport or foreign permanent resident ID card, as well as their Chinese name confirmed by their signature; people from Hong Kong, Macao, and Taiwan and expatriates should provide the information (name, ID number, and contact information) and identity document of a domestic contact. If the above-mentioned person is an adult with limited or no capacity for civil conduct, the original and copy of the guardianship certificate should be provided.
4. Proof of marital status:
(1) Married applicants should provide the original and copy of their marriage certificate; single applicants should fill out a single commitment letter; divorced applicants should provide the original and copy of the divorce certificate and the divorce agreement stamped with the seal of the Civil Affairs Bureau or the court divorce judgment;
(2) Married co-applicants and property co-owners should provide the original and copy of their marriage certificate; single persons should fill out a single commitment letter;
(3) Married applicants from Hong Kong, Macao, and Taiwan who have not registered their marriage in Chinese Mainland should provide the original and copy of their marriage certificate notarized by the notary authority in the place of residence (Hong Kong, Macao, or Taiwan); married applicants from Taiwan can provide their Taiwan ID card (with details of family members on the back);
(4) If the marriage is registered in a foreign country, the original and copy of a marriage certificate issued by a notary public or competent authority in that country and authenticated by the embassy (consulate) of the People’s Republic of China in that country or by the embassy (consulate) of that country in China should be provided. If the marriage certificate is in foreign language, the original and copy of a translated version issued by a proper translation agency should be provided.
5. Proof of down payment:
(1) In the case of newly built housing, the following should be provided: the original and copy of the invoice and payment voucher issued by the seller. If there is no invoice and only a receipt is provided, the receipt should be stamped with the developer’s official seal or financial seal or invoice seal;
(2) In the case of housing in stock, the following should be provided: the original and copy of the down payment receipt and payment voucher issued by the seller (the down payment should be made only by the buyer themselves and their spouse, parent, and child, and only to the seller themselves and their spouse).
6. Repayment account information: Original Class I debit card of the lending bank in the name of the loan applicant.
7. Proof of loan purpose:
(1) If the loan is used to purchase newly built housing, the original and copy of the pre-sale contract for off-plan housing or the sales contract for existing housing should be provided;
(2) If the loan is used to purchase housing in stock, the original and copy of the second-hand housing sales contract should be provided.
8. Seller’s materials:
(1) In the case of newly built housing, the following should be provided: the pre-sale license and preview registration certificate for off-plan housing, or the real estate certificate for existing housing, the real estate developer’s business license, a copy of the legal representative’s ID card and the payment account number of the real estate developer or agent;
(2) In the case of housing in stock, the following should be provided: the original ID card of the seller, a copy of the real estate certificate with the completion date (if there is no completion date on the real estate certificate, the original real estate registration certificate with the completion date issued by the real estate trading center is required), and the original Class I debit card in the seller’s name. If the seller is a company, the applicant should provide a description of the agreement to sell the house and stamp it with the company’s official seal, and also provide a copy of the company’s business license, a copy of the legal representative’s ID card, and the company’s payment account number.
9. If the applicant’s parent or child participates in the loan or if certification review is required due to marriage needs, proof of the relationship between the applicant and their parent or child should be provided, including household register, birth certificate, and only child certificate. If none of those materials can be provided, the original notarial document that can prove their relationship, the original and copy of the original household registration materials obtained by the applicant (or an entrusted lawyer) to prove their relationship, or the archives issued by the archives management organization (normally the applicant’s employer) stamped with the official seal or the seal of the Human Resources Department can be used as proof of the relationship.
10. When families with multiple children purchase their first home and apply for a housing provident fund loan, they should provide medical birth certificates, household registers, adoption registration certificates, divorce agreements, court judgments, notarial deeds, etc. that can prove the relationship between the parents and children, as well as documents that include the children’s ID numbers.
11. Other materials required.
IV. Service Methods:
Pure housing provident fund loan:
Service outlets of Shanghai Estate Guarantee Co., Ltd.
Housing provident fund combination loan:
Service outlets of entrusted banks for individual housing provident fund loan
Handling process:
Loan reservation - Loan acceptance (including inquiries about real estate in the applicant’s name and credit status) - Loan approval - Signing of housing provident fund loan contract - Handling transfer and implementing guarantee - Disbursement audit - Disbursement by the bank.
Loan applicants can go to the Shanghai Housing Provident Fund Website (www.shgjj.com) to check the progress.
V. Required Attendees:
1. Required attendees for the loan acceptance: The applicant and their spouse, co-applicant, property co-owner, and seller of second-hand housing.
2. Required attendees for signing the housing provident fund loan contract: The applicant and their spouse, co-applicant and their spouse, and property co-owner and their spouse.
3. If anyone of the above cannot be present, a notarial certificate, which should specify the matter under entrustment, issued by the notary agency and the original ID card of the entrusted party should be provided.
VI. Processing Period:
It will take no more than ten working days if all materials required are provided; and the disbursement will take no more than five working days if the loan conditions are met and the loan approved.