Arab Today, arab today mortgage loan discount for home buyers almost impossible
Last Updated : GMT 13:00:05
Arab Today, arab today
Arab Today, arab today

Mortgage loan discount for home buyers almost impossible

Arab Today, arab today

Arab Today, arab today Mortgage loan discount for home buyers almost impossible

Lenders are making it almost impossible to get an interest-only mortgage.
Beijing - XINHUA

One month ago China relaxed its rules on mortgage loans for home buyers, but experts say it is "almost impossible" for them to fully enjoy the interest rate discount.
The People's Bank of China and the China Banking Regulatory Commission jointly announced on Oct. 1 that people buying a second home will be allowed interest rates as low as 70 percent of the 6.55-percent benchmark mortgage rate, instead of paying a 10-percent premium on top of the benchmark rate as required previously.
The mortgage loan easing was an effort to reinvigorate China's sluggish property market, which is key to stabilizing the economy.
The country's major lenders, including China Construction Bank (CCB), Agricultural Bank of China (ABC) and China Merchants Bank (CMB), confirmed the implementation of the policy.
However, a manager of an ABC's local branch in Jiangsu Province told Xinhua on condition of anonymity that "it is almost impossible to offer 30 percent off."
"A great amount of bank deposits are taken from wealth management programs with high return promise. Big mortgage loan discounts mean losses to banks as the cost of taking a deposit is high," said the manager.
Su Xin, a loan manager of a CMB's local branch in Shandong Province, said the bank offers 5 percent off to VIP clients and the benchmark rate to others.
Xinhua surveyed several banks and found that 10 percent off is the best offer available and with no 30 percent discounts available.
Although the implementation is lower than expected, many banks have sped up loan approval process to help home buyers.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today mortgage loan discount for home buyers almost impossible Arab Today, arab today mortgage loan discount for home buyers almost impossible

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday