Reported 8 months ago
Following the central bank's interest rate hike cycle, mortgage rates exceeded 2%, prompting the Ministry of Finance to relax conditions for the 8 major public banks' youth housing loans. However, issues such as subletting and false applicants have arisen, leading to intense scrutiny. The Ministry of Finance has introduced new measures requiring new loan applicants to sign a pledge to live in the property, with violators facing termination of interest subsidies, repayment of subsidy interest, and renegotiation of loan terms. The aim is to prevent misuse of the program and strengthen pre- and post-loan management to ensure compliance with the policy's purpose of assisting first-time homebuyers.
Source: YAHOO