Caixin
Nov 07, 2016 04:40 PM
PROPERTY

Shanghai Again Tightens Home-Purchasing Rules, Targeting Divorce, in Bid to Cool Market

(Shanghai) — Shanghai has further tightened home-purchasing rules by demanding lenders scrutinize the sources of funds used for down payments — a move that will likely curb the surge of divorce filings among couples seeking to purchase second homes.

A document laid out Thursday by the local market interest-rate-pricing self-discipline mechanism, a group of banks under the guidance of the central bank, highlighted the need to inspect the authenticity of a resident's proof of income in relation to home purchases, requiring commercial lenders to step up efforts to check the income of both the borrower and their spouse.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code