Meaning:
"套路" means "a set pattern," usually used to refer to tricks, and "贷" means "loans." This term, coined by Chinese media earlier this month, refers to a series of tricks used by some small loan companies that aim to swindle borrowers of their real estate properties. The companies intentionally encourage the loans to become overdue and then "help" money borrowers to borrow from other creditors to pay back their debts. After several rounds when the number of loans reach a hefty sum, often several times the original borrowed money, the company would require the borrower to mortgage their real estate and borrow money from a new final creditor to pay back old debts. Inevitably the mortgaged apartment is lost. Reports said that quite some Shanghai people lost their apartments this way.
Example
A: 我表哥家里拆迁，赔了好几套房。
Wǒ biǎogē jiālǐ chāiqiān, péi le hǎo jǐtào fáng。
My cousin had his old family home dismantled for a new development and the developer paid him back several apartments.
B: 你可要提醒他，小心套路贷。
Nǐ kě yào tíxǐng tā, xiǎoxīn tàolùdài。
You need to remind him to beware of "set-pattern loan" tricks.
(First editor: Debra Li)