HKMA imposes tighter property loan guidelines

The Hong Kong Monetary Authority (HKMA) issued lending guidelines on September 14 to guard against risk in the special administrative region's property loans market.

The new lending rules apply to borrowers with multiple property mortgages, which tend to have higher levels of indebtedness and leverage, according to Norman Chan, chief executive of the HKMA.

The guidelines aim to ensure less of applicants' income or net worth is committed to debt repayments and will apply to borrowers seeking