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China's First Housing Finance Super-Market Opens in Guangzhou
China's first housing finance market opens in Guangzhou today. The "Gold Key" housing finance market is presented by China Agricultural Bank Guangdong Branch (CABGB), which accounts for 90% of mortgage loan business for second hand houses. It has attracted visits and consultations of Guangzhou residents in large numbers.
Complicated procedures and long handling time have always been the major reason in restricting the development of credit consumption of the residents. CABGB meets market demand by presenting this service in line with the fashionable idea in international financial supermarket.
This super-market collects all kinds of loans and their combinations for first and second hand houses of 16 kinds. Loans such as guarantee-free on-the-spot houses, old house mortgage loans, composite loan of accumulated funds cover the related fields of dwellings, office building, shops and stores, parking lots and interior decorations. The clients can enjoy a series of services ranging from application, evaluation, to notarization and loan granting.
For those clients busy with business and lack of time, housing supermarket cooperates with Guangdong Telecom to presenting online application for housing mortgage loan service. Clients only need to log in the housing and financial channel of 21CN web-site for filling out and submitting the application form of mortgage loan online. This is the fist time when China introduces online service into the housing finance business.
Since CABGB presented for the first time in China second hand house mortgage business in 1998, its business volume has been increasing quickly at an annual growth rate of 660%. Up to now, a total of 12.4 billion yuan has been granted as individual housing loans.
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