Reported 8 months ago
FTNN News, 19th June 2024, 11:15 AM - The Ministry of Finance in Taiwan has introduced a new housing loan scheme called New Youth Housing Loan with the original intention of assisting young people in purchasing homes. However, reports of individuals exploiting loopholes with the scheme to speculate on real estate have surfaced. The ministry has now put in place three measures focusing on dummy households, post-loan subletting, and declarations of self-occupancy. Future borrowers will be required to sign a declaration of self-occupancy, with violation resulting in subsidy termination and repayment of any misused interest subsidies. Enhanced scrutiny and management processes both pre- and post-loan are being implemented to prevent misuse of the scheme.
Source: YAHOO