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Down payment on a second home loan 40% Bank working on ground rules

on March 30, the three ministries issued a second home down payment adjustment. Banks are working on ground rules.

have 1 housing and households of the corresponding mortgage outstanding, to improve living conditions for personal commercial housing loan to buy a normal home again, down-payment ratio of not less than 40%.
as the minimum not lower than 60%, while in Beijing, Shanghai and other big cities are implementing more stringent 70% standards. In addition, the provisions of the new deal housing common reserve fund loan to buy first home down payment minimum 20%, 30% minimum downpayment for second homes.
the Central Bank also stressed in his announcement, business loans down-payment and interest rates by banking institutions in accordance with the borrower's credit standing and repayment ability, determination.
the same day, China Construction Bank President Zhang Jianguo said the CCB will actively study new policies of individual housing loans and related policies will be launched as soon as possible.


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