There are many motives for getting divorced, but in Li Guoliang’s case they had nothing to do with an unhappy matrimonial state. No, the 42 year-old from Hunan province is divorcing his wife so he can apply for a preferential mortgage to buy a second home. According to Xinhua, Li made the decision after the government made it more expensive to buy a second property. By getting a ‘fake divorce’ he can let his wife have their first house, and then apply for a preferential mortgage as a ‘first time buyer’. After buying the Rmb720,000 second property in Changsha he says he will remarry her. Li claims to have been given the idea by a real estate agent and thinks he will save Rmb240,000 over the life of the mortgage. Nor is he alone; after the new measures were introduced a lawyer in Chongqing said 16 clients approached him for a ‘fake’ divorce with exactly the same idea as Li.
© ChinTell Ltd. All rights reserved.
Sponsored by HSBC.
The Week in China website and the weekly magazine publications are owned and maintained by ChinTell Limited, Hong Kong. Neither HSBC nor any member of the HSBC group of companies ("HSBC") endorses the contents and/or is involved in selecting, creating or editing the contents of the Week in China website or the Week in China magazine. The views expressed in these publications are solely the views of ChinTell Limited and do not necessarily reflect the views or investment ideas of HSBC. No responsibility will therefore be assumed by HSBC for the contents of these publications or for the errors or omissions therein.