Some Chinese banks have halted lending to individual borrowers planning to use apartments built on commercial or office landas collateral, and dropped preferential interest rates for first-time home buyers, according to banking sources.
Making such apartments ineligible as collateral – further squeezing the value of the previously popular product after banning its sale to individuals – is the latest move in a series of efforts to crack down on their demand, and meet the China…
Source : South China Morning Post
Read more…China banks withdraw from offering apartment-backed loans















