Mortgage Nightmare "Penguin Evil" Water Level 72-2 Clause
Driven by the New Qing'an Loan Plan, the direct housing market prices soared, and many banks approached the lending warning line of 28%, resulting in stricter lending. This is because Article 72-2 of the Banking Law limits the loan limit to no more than 30% of the total amount of deposits and financial bonds. Now buyers are responsible for higher interest rates and down payments. It is recommended to negotiate with the builder in advance to delay payment or change banks to avoid loan failure.
