본문 바로가기
  • Home

The Change and Implication on Legal Systems about House in Japan

  • Public Land Law Review
  • Abbr : KPLLR
  • 2008, 39(), pp.161-182
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law

張校湜 1

1建國大學校

Accredited

ABSTRACT

The Government Housing Loan Corporation of Japan(GHLS) had been establish in 1950, against the background of devastated housing stock due to World WarⅡ, for the purpose of stable housing finance and improving the standard of housing stock. An independent governmental organization, supervised by the Ministry of Land, Infrastructure and Transport and the Ministry of Finance. At Present, around 40% of all mortgage debt outstandings are the GHLC loan . Funding mainly through the Government's fiscal investment and loan program and supplementary grants from the government's general account.. Features of the GHLS Loan are (ⅰ) long-term loans with interests fixed at low rates (ⅱ) Maximum repayment period is set 35 year, through with the interest rate is predetermined (ⅲ) LTV could have been 100% - reduced, according to the reform mentioned later, to 80% or 50% depending on conditions. And, in order to ensure high quality housing, (ⅰ) Lower rate applies to elderly and handicapped accessible and energy-efficient type housing (ⅱ) additional loan amount for specific equipment (ⅲ) On-site inspection by the local government units commissioned by the GHLS. In December 2201, Japanese Government launched the overrall administrative reform plan for government affiliated institutions. The overall administrative reform plan, together with the reform of FILP, will make the provision of long-term with low fixed interest rates loans by GHLC difficult. Japanese government and GHLS decided, by means of securitisation of private financial institution's housing loans, to try to enable them to provide such loans.

Citation status

* References for papers published after 2022 are currently being built.