News Snapshot:
In an attempt to stimulate China’s flagging housing market, banks in some cities are extending the upper age limit on mortgages to between 80 and 95. Although not a national policy, banks in Beijing, Hangzhou and other big cities have started offering “relay loans” to elderly customers, which pass on to their children in the event that they cannot repay. Regulators have previously encouraged or enforced lower age limits on borrowing, measured by the formulation of age plus loan period, and usually capped at about 70 years. But the new offerings, from banks and lenders across several Chinese provinces, include...
