Hong Kong tightens mortgage rules second time in a week as property market overheats

Hong Kong’s monetary authority has announced the second set of mortgage-tightening measures in a week to cool a property market that has shot past previous records, in an attempt to reduce the risks faced by banks due to mortgage loans, taking aim at borrowers with multiple loans and whose income sources come from outside the city.
Starting immediately, banks will have to allocate a larger risk weighting toward their assessment of credit risks, while cutting the amount of allowable loans…

Source link

Some local news is curated - Original might have been posted at a different date/ time! Click the source link for details.

Leave a Reply

Send this to a friend