Govt tightens mortgage rules – local first-time buyers unaffected
The government had decided to tighten its mortgage rules from today, lowering the percentage of mortgage available to all except local first-time buyers, in order to ensure stability in the local housing market, Government Information Bureau (GCS) Director Victor Chan Chi Ping, said yesterday.Chan, the government’s chief spokesperson, announced the measure during a hastily arranged press conference at Government Headquarters yesterday afternoon.Lau Hang Kun, the deputy chief of the Banking