Down payment ratio for first-home purchases in Jinan down to 25%
Before the National Day holiday, People's Bank of China and China Banking Regulatory Commission jointly issued Notice on Problems on Further Perfecting Diversified Housing Credit Policies, required that down payment ratio for the first-house purchase with commercial individual housing loans should not be lower than 25% in the cities which don’t implement housing purchasing restriction. The reporter visited several banks and building-selling centers and found that they had different understandings of the new policy after it had been issued for almost half a month. Several banks in Jinan expressed that they would wait for detailed rules.