MOI to Offer Preferential Housing Loans to Young People

Taipei, May 29, 2008 (CENS)--In line with President Ma Ying-jeou's campaign platform, the Ministry of Interior (MOI) is planning to offer young couples NT$2 million of preferential housing loans featuring zero interest for the first two years.

In briefing premier Liu Chao-shiuan on his policy plan yesterday (May 28), Liao Liouyi, minister of interior, noted that the loans will be available to local people aged 20-39 when purchasing their first house after marriage or replacing their houses in preparation of child birth.

The MOI will subsidize the preferential loans and is working on the details of the program, including interest rate from the third year, the quota of housing units, and the magnitude of the preferential loans. The program is scheduled to take effect from next year.

The MOI, though, has yet to plan fulfilling another plank of Ma, pledging to offer NT$1 million of preferential housing loans to young singles under certain conditions.

The preferential-loan program will be put under the charge of the Construction and Planning Agency, MOI, which now handles all of the housing subsidy programs, including interest subsidy for housing loans, interest subsidy for home-improvement loans, and rental subsidies.