Reported 9 months ago
In response to issues like subletting and dummy accounts arising from the popular 'Xin Qing An Xin Mejia Purchase Loan' introduced in August last year, the Executive Yuan took steps to prevent abuse, including stricter pre-loan review and post-loan management. One major change is the introduction of a 'one loan limit' to deter investors from using Xin Qing An for speculation. The government aims to maintain order in the housing market and crack down on any misrepresentation or group purchases using Xin Qing An loans. These measures, led by Premier Su Tseng-chang, include requiring new loan applicants to sign a declaration of self-occupancy and limiting each individual to one loan under the Xin Qing An program. Authorities plan to thoroughly investigate any attempts to inflate housing prices or engage in other illicit practices. The introduction of the one loan limit targets individuals taking advantage of Xin Qing An's favorable interest rates for frequent buying and selling since its launch on August 1st last year, with penalties for violations including the halt of interest subsidies and recouping of any subsidies received during the period of violation.
Source: YAHOO