Big lenders get stringent on mortgage loans

BEIJING - Major State-run lenders started to become more stringent on mortgage loan disbursements, after the recent government warning on the inherent risks in the sizzling realty market and the need to curb speculative purchases.

Most of the lenders have followed the steps of Bank of China (BOC), the nation's third largest lender by market value, which reduced the discounts on some mortgages on Feb 3.

The other lenders are also scaling back the preferential interest rates offered to mortgages, citing concerns over growing property market risks.