China's mortgage interest subsidy takes effect Oct 1: 1 point off annual rate for up to 5 years

China's residential mortgage interest subsidy took effect Oct 1, giving borrowers an annualised 1 percentage point subsidy for up to five years, granted automatically without application. Banks clarified loans already approved but not yet disbursed also qualify, and normal interest and repayment resume after five years. It covers new first-home loans under 120 sqm priced at 1.5m yuan or less.

Detected & updated continuously · Source: Nebula