Equity loans

A person who purchases a property with an equity loan must register their legal domicile at the property. Renting out the property is not permitted without the approval of HMS

Conditions for renting 

HMS may grant permission for temporary rental of a property purchased with an equity loan if the borrower has lived in the property for at least two years, and the reason for moving is one of the following: 

a. Employment of the borrower is far from the property, supported by an employment contract. 

b. Education pursued far from the property, supported by confirmation of school enrollment. 

c. Illness of the borrower, their spouse, or dependent child requiring access to healthcare far from home, supported by a medical certificate. 

d. Disability of the borrower, their spouse, or dependent child requiring long-term residence away from home (e.g., treatment or rehabilitation), supported by a medical certificate. 

e. Other valid reasons, such as special family or personal circumstances 

An exemption from the two-year residence requirement may be granted in urgent cases under items c til e above, where serious personal or family circumstances require the borrower to reside elsewhere. 

The borrower is required to deregister their legal domicile from the property during the rental period. However, if the borrower is studying abroad, they may retain their domicile at the property. 

HMS may grant permission for temporary rental for up to five years, unless special circumstances justify a longer period.