Reported 9 months ago
On June 27, 2024, a new Qing An Loan optimized plan was announced to regulate the overheated housing market and prevent issues like subletting and using proxies. The revised principles state that those who received the Qing An preferential loan from August 1 of the previous year onwards cannot apply for the same preferential loan again starting June 27 of this year. Borrowers are limited to one loan, and banks must request a self-occupied declaration from new loan applicants. Failure to comply will result in the termination of interest subsidies and the recovery of interest already paid, with strict monitoring of loan cases and government data for enforcement. The Ministry of Finance aims to prevent speculation, proxy applications, and post-loan subletting by inspecting loan management mechanisms thoroughly. Legal measures are in place to ensure fair usage of government resources and balance public needs, with a total of 57,980 households benefiting from the Qing An Loan by the end of May this year. The government vows to uphold the policy of promoting stable homeownership, safeguarding the rights of borrowers who purchase homes for self-occupancy without subletting. Coordinated efforts will continue to refine loan management mechanisms and closely supervise the implementation of the Qing An Loan to maintain the original intent of the policy promoting stable homeownership and contribute to a healthy housing market industry. Various reports also discuss possible issues related to the Qing An Loan, emphasizing the importance of curbing unintended consequences and maintaining market stability.
Source: YAHOO