The policy of “Issue loans based on housing ownership” takes effect on August 31 in Zhongshan City, Guangdong

Zhongshan City Housing and Urban-Rural Development Bureau, Zhongshan Branch of People’s Bank of China, and Zhongshan Bureau of National Financial Regulatory Administration jointly issued “About Optimizing Our Notice on the Identification Criteria for the Number of Housing Sets in the Municipal Personal Housing Loans”. It proposed two principles as follows. First, when a resident family (including the borrower, spouse, and minor children, the same below) applies for a loan to purchase commercial housing, if the family member does not own complete ownership of one house in Zhongshan City, regardless of whether they had used the loan to purchase a house, banking Institutions should issue loans following the first housing credit policy. Second, Zhongshan Natural Resources Bureau provides family housing unit inquiry services and will issue inquiry results to banking Institutions as the basis for loans. This notice shall come into effect as of the date of issuance. If the original policy is inconsistent with this Notice, this Notice shall prevail.