In China’s eastern Zhejiang province, some banks in Hangzhou (pictured) and Ningbo have extended the age limit for mortgages to up to 80 years. Photo: Shutterstock
China’s banks raise mortgage age limit to octogenarians, dipping into pensions of elderly buyers to prop up sagging sales
- The trend is more about the pressing need to boost housing purchases rather than about demographic trends, Economist Intelligence Unit economist says
- Extension of mortgage age limits will help reduce the monthly repayment requirements for certain buyers: Fitch executive
In China’s eastern Zhejiang province, some banks in Hangzhou (pictured) and Ningbo have extended the age limit for mortgages to up to 80 years. Photo: Shutterstock
