Reported 9 months ago
Ministry of Finance official Juan Qinghua announced that since the implementation of the new housing loan policy, nearly 58,000 households have been assisted in purchasing 'self-occupied' homes, but some individuals have been misusing the policy for investment purposes or rental, leading to immediate measures such as requiring loan applicants to sign a statement confirming self-occupation and restricting each person to one loan. Public banks are called for a meeting to review high-risk cases and enhance post-loan management, emphasizing a zero-tolerance approach towards abuse. A new regulation limits individuals to one New Housing Loan, and stringent measures will be taken to prevent violations. The policy will be enforced until July 31, 2026, and funding shortages will be supplemented to avoid any gaps.
Source: YAHOO