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Banks In Guangzhou Allow Homeowners To Delay Mortgage Repayment

CHINA PRESS
MNI (Singapore)

Major commercial banks in Guangzhou city, including China Construction Bank and Bank of China, are offering a grace period on repayments on house mortgages up to six months to homeowners affected by the Covid-19 pandemic, National Business Daily reported. Homeowners should provide an unemployment certificate or a proof that income has been reduced due to the Covid lockdown. After the grace period expires, the delayed payment needs to be repaid at one time or apportioned to future monthly payments, so not to affect a borrower's personal credit record, the newspaper said.

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