China unveiled further mortgage easing policies to bolster its residential property market in an attempt to support economic growth.
The country is proposing that local governments can scrap a rule that disqualifies people who’ve ever had a mortgage – even if fully repaid – from being considered a first-time homebuyer in major cities, official Xinhua news agency reported on Friday, citing the Ministry of Housing and Urban-Rural Development, the People’s Bank of China and the National Financial Regulatory Administration.
City governments can have leeway on whether to adopt the policy, according to the notice.