Tougher bank loan criteria in Beijing
Page 1 of 1
Tougher bank loan criteria in Beijing
BEIJING: Would-be Beijing homeowners face tougher lending times as the “Big Five” banks have withdrawn their favourable first-home loans in the city from August, the China Securities Journal said.
According to the paper, first-home buyers seeking a loan received a 15% discount at Bank of China and Agricultural Bank of China, but now the lending rate is the same as that of the benchmark rate.
Most other banks have also cancelled their first-home lending discount, with the exception of Citibank, China Citic Bank and Huaxia Bank.
The paper quoted insiders as saying that the risk of mortgage business can be controllable, but the discounts made the lending business less profitable.
Some commercial banks with limited credit resources have even stopped personal housing mortgage loans.
The “Big Five” banks are Bank of China, China Construction Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, and Bank of Communications. - Agencies
According to the paper, first-home buyers seeking a loan received a 15% discount at Bank of China and Agricultural Bank of China, but now the lending rate is the same as that of the benchmark rate.
Most other banks have also cancelled their first-home lending discount, with the exception of Citibank, China Citic Bank and Huaxia Bank.
The paper quoted insiders as saying that the risk of mortgage business can be controllable, but the discounts made the lending business less profitable.
Some commercial banks with limited credit resources have even stopped personal housing mortgage loans.
The “Big Five” banks are Bank of China, China Construction Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, and Bank of Communications. - Agencies
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Similar topics
» Ho Hup refinances loan from CIMB Bank
» KNM gets RM134 mil loan from EXIM Bank
» Exim Bank on track to RM1b loan target
» L&G unit secures RM90m loan from OCBC Bank
» Bank Negara asked to ease loan conditions
» KNM gets RM134 mil loan from EXIM Bank
» Exim Bank on track to RM1b loan target
» L&G unit secures RM90m loan from OCBC Bank
» Bank Negara asked to ease loan conditions
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum