A number of banks based in Guangzhou, Guangdong province have temporarily suspended reviews for second home loans as the government has not yet issued details for second home mortgage interest rates, Guangzhou Daily reports. An insider at a state-owned bank said that the bank has received no notice pertaining to second home loan interest rates currently and believed the government will publish interest rate requirements this week and after which second home loan reviews will be restarted.
China's State Council announced on January 10 that purchasers of second homes must provide down payments of no less than 40% of the purchasing price.
China's State Council announced on January 10 that purchasers of second homes must provide down payments of no less than 40% of the purchasing price.
