Wuhan housing provident fund new policy: canceling the household registration restriction, adjusting the loan unit recognition.

The Wuhan Housing Provident Fund Management Center issued a notice on April 2, optimizing the policy for the use of housing provident fund. The policy includes: 1. Optimizing the ratio of existing house loans. Cancelling the rule of dividing the housing provident fund loan ratio for existing houses based on the age of the house, and uniformly adjusting it to a maximum of 80% of the total price of the house for the first home loan, and a maximum of 70% of the total price of the house for the second home loan. 2. Expanding the range of loans for non-local residents. Workers who have deposited funds from cities across the country, and purchase their own homes in Wuhan, or have outstanding commercial housing loans, may apply for housing provident fund loans from Wuhan Provident Fund Center, cancelling the restriction that borrowers must have Wuhan household registration. 3. Adjusting the assessment of the number of loans. Before June 30, 2027, when depositors improve their housing conditions and apply for housing provident fund loans to purchase new commercial housing or existing housing in Wuhan again, one house that is already listed for sale will not be counted towards the loan assessment. Depositors who own three or more properties in Wuhan, or have outstanding housing provident fund loans anywhere in the country, will still not be eligible for a loan.