Regulatory Alerts2005-05-30
Added · Updated
Directions for the Extension of Housing Loans by Financial Institutions Under the Preferential Housing Loan Program
The document establishes the Preferential Housing Loan Program, setting a total size of NT$1,680 billion with a processing period from August 14, 2000, to September 30, 2006. It mandates lending financial institutions to provide loans at a rate pegged to Chunghwa Post Co., Ltd.’s floating interest rate plus 1 percent, with government subsidies ranging from 0.125% to 0.85% per annum depending on the appropriation batch. Eligible borrowers are Republic of China nationals aged 20 or older, subject to loan ceilings of NT$2.5 million in Taipei City and NT$2 million elsewhere, with a maximum maturity of 20 years including a three-year grace period. The regulations impose strict compliance requirements, including internal audits, prohibitions on bulk lending to construction enterprises, and the revocation of eligibility or retroactive rate adjustments for violations.
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