Reported about 1 year ago
Since the government introduced the 'New Youth Housing' preferential loan scheme last August to assist first-time homebuyers, there have been reports of abuses like using the program for subletting and as fronting households. The eight major banks are planning measures to prevent such abuses, as well as considering implementing a potential sixth round of measures to curb rising property prices, such as lowering the loan-to-value ratio for second home mortgages to 60% and expanding oversight measures. This has brought concerns about the scheme's contribution to the property market boom, prompting discussions on stricter enforcement and monitoring to prevent further price increases and address potential manipulations.
Source: YAHOO