[Many banks in Shanghai have made it clear that people born before 1991 cannot apply for new 40-year mortgages, and the extension period of existing mortgages cannot exceed half of the original loan period] September 3rd, a new policy that allows mortgages to be loaned for 40 years has attracted attention from all parties. Banks can already accept 40-year loan terms for new home-buying customers. At present, some banks in Shanghai have opened extension applications for existing mortgage loans. The reporter learned from the Shanghai Branch of the Bank of Communications that current existing mortgage loans can be extended. The extension period cannot exceed half of the original loan period, and the total of the original loan period and the extended period cannot exceed 40 years. In other words, the original 30-year loan can be extended to 40 years, and the original 20-year loan can be extended to "20+10" years at most. The Shanghai Branch of China Construction Bank stated that customers can apply to extend the loan period through the CCB Mobile Banking APP (path: Loan - My Loan - Repayment Plan Adjustment - Extend Loan Term) or offline to the original lending bank. It is worth noting that many banks have expressed that the "lender's age + loan term" does not exceed the threshold of 75 years. In other words, if you are applying for a new mortgage loan and want to apply for a 40-year term, the borrower needs to complete the loan disbursement before the age of 35. This also means that if this standard is followed, borrowers born before 1991 will no longer be able to apply for a 40-year personal mortgage loan when they apply for a new mortgage. If it is an existing mortgage, the situation is different. Since the borrower's age refers to the age when the loan is issued, if the customer is not more than 35 years old when the loan is issued that year, the loan can still be extended to a maximum of 40 years. But people who were born before 1991 need not worry, because the standards may be slightly relaxed when implemented by branches in various places. For example, a Shanghai branch of the Industrial and Commercial Bank of China stated that the standard is that "the age of the borrower + the loan term" should not exceed 80 years. (top view)