Guaranteed mortgages
Source: Xinhua |
March 13, 2012, Tuesday
|
Print Edition
Print Edition
THE People's Bank of China said yesterday that commercial banks should put in place a differentiated credit policy to guarantee loans to qualified first-home buyers.
Liu Shiyu, vice governor of the central bank, said it will implement the policy this year to ensure qualified residents are able to get mortgages when buying their first apartments.
However, he warned banks against taking risks and urged them not to engage in developers' promotions of selling houses with only a 10 percent down payment.
Financial institutions were encouraged to price loans in accordance with borrowers' financial conditions, Liu said.
Liu Shiyu, vice governor of the central bank, said it will implement the policy this year to ensure qualified residents are able to get mortgages when buying their first apartments.
However, he warned banks against taking risks and urged them not to engage in developers' promotions of selling houses with only a 10 percent down payment.
Financial institutions were encouraged to price loans in accordance with borrowers' financial conditions, Liu said.
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