Related News
Home » Business » Real Estate
Mortgage Lending Ceiling Goes Up Again
By Cherry Cao |
January 6, 2009, Tuesday
|
Print Edition
Print Edition
SHANGHAI has again raised the ceiling on mortgage lending in the city's housing fund program for second-time home buyers, the second increase within 10 days.
Lasting till the end of this year, the mortgage lending ceiling in the program will be raised to 600,000 yuan (US$87,600) for second-time buyers if at least two people cover the repayment and they have repaid the loan on their first house. In addition, mortgage applicants are required to provide official documents to certify the family owns only one house, the Shanghai Provident Fund Management Center said in a statement on its Website on Sunday.
These families will be eligible for a maximum loan of 800,000 yuan if they have an extra funding account.
Previously, only first-time home buyers were eligible for the ceiling and maximum loan amount.
But in cases whereby only one person is to cover the repayment, the ceiling has also been raised to 300,000 yuan and a maximum loan of 400,000 yuan applies if the first loan has been repaid and the applicant doesn't own more than one house.
Lasting till the end of this year, the mortgage lending ceiling in the program will be raised to 600,000 yuan (US$87,600) for second-time buyers if at least two people cover the repayment and they have repaid the loan on their first house. In addition, mortgage applicants are required to provide official documents to certify the family owns only one house, the Shanghai Provident Fund Management Center said in a statement on its Website on Sunday.
These families will be eligible for a maximum loan of 800,000 yuan if they have an extra funding account.
Previously, only first-time home buyers were eligible for the ceiling and maximum loan amount.
But in cases whereby only one person is to cover the repayment, the ceiling has also been raised to 300,000 yuan and a maximum loan of 400,000 yuan applies if the first loan has been repaid and the applicant doesn't own more than one house.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
