Nanning city extends the maximum age at the end of the mortgage in the city to 80 years old.
At least eight properties in Nanning are advertising the new mortgage policy while a number of banks in Nanning have confirmed and implemented the policy, according to the report.
A representative from the Nanning Branch of China CITIC Bank said that the bank issued a notice on February 10 to officially adjusted the maximum age of a residential mortgage borrower to end mortgage from 70 years to 80 years old, meaning that a 50 year-old home buyer can apply for a maximum mortgage term of 30 years if they fit requirement, according to the report.
Another bank insider said that his bank has implemented the policy from the end of last year, the report said.
