Future of housing loan policy in question

To stimulate the real estate market amid the global financial crisis, China has adopted a preferential policy for credit loans that offers 30 percent off the benchmark interest rate. But, with the year-end approaching, many are wondering if the policy will continue to next year.

The question has aroused the attention of many home buyers. Despite the fact there has been no announcement by relevant departments of a cessation of the policy, some banks have tightened the offer discreetly.

Recently, China Construction Bank stipulated that consumers can enjoy the reduced rate, only when the downpayment reaches more than 40 percent of the total home price for first home buyers. Consumers will only receive a 15 percent discount if the downpayment amounts to 20 percent of the home price.

In addition, the bigger the house you buy, the smaller the discount you can enjoy. But regardless of this, CCB's housing loan business maintains a leading position in China.

Statistics show that in the first half of the year, housing loans for individual buyers reached 715 billion yuan. The tightened loan policy is set to influence a large amount of buyers across the country.