Mortgage deposit for repeat buyers may rise
By Zhang Ran | China Daily | Updated: 2007-09-13 07:07
The central bank is likely to ask commercial lenders to raise mortgage deposits to at least 40 percent for homebuyers who intend to buy a second apartment, a source said.
The central bank could release the new requirement later this week, the source told China Daily yesterday.
"Homebuyers might have to make a down payment of at least 40 percent to buy a second apartment," he said, adding that the move is an attempt to curb speculation in the property market, which might be intensified by rising inflation.
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