According to reports, several commercial banks in various second and third tier cities including Chongqing and Nanchang have suspended individual housing loans. The banks said that the decision was made because “they had been drained of loans." Most banks in Nanchang have already halted loans to second home buyers and some are even refusing to lend to first home buyers, according to a sales account manager with a commercial bank in Nanchang. Meanwhile, many commercial banks are also considering increasing the down payment required of first home buyers. “The down payment could go up to 40% of the housing price,” said one bank clerk in Taiyuan, the largest city in Shanxi province.
Source
China Securities Journal

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