Reported about 1 year ago
In response to irregularities arising from the 'New Qing'an Mortgage' program, Taiwanese Premier Su Tseng-chang announced that new loan applicants are now required to sign a declaration stating their intention to reside in the purchased property and are restricted to one loan each. The government aims to promote housing justice, combat property speculation, and assist young homebuyers. The Finance Ministry will enforce stricter regulations to prevent investment buyers and individuals applying for loans on behalf of others, emphasizing pre-loan investigations, post-loan management, and accurate documentation. The 'New Qing'an Housing Loan' program has already assisted over 50,000 households in purchasing their first homes, helping alleviate financial burdens through increased loan amounts, extended repayment periods, and interest subsidies. To ensure the program benefits genuine homebuyers, the government will enhance inspections and crack down on misuse of the policy, canceling incentives for violators and reclaiming interest subsidies.
Source: YAHOO