Woori Bank to Conditionally Suspend Apartment Jeonse Loans Until Year-End

[Asia Economy Reporter Jeong Dong-hoon] Woori Bank will conditionally suspend Jeonse loan services until the end of the year.

According to the banking sector on the 28th, Woori Bank decided to impose conditional restrictions on its Jeonse loan product, 'Woori Jeonse Loan,' from the 30th of this month until December 31.

Specifically, Jeonse loans will be restricted in cases where ▲ the ownership of the landlord is transferred (change of landlord) ▲ the Jeonse contract is made under the condition of cancellation or reduction of a senior mortgage lien while receiving a Jeonse loan ▲ the borrower attempts to switch a Jeonse loan from another bank to Woori Bank.

However, if a borrower has already taken a Jeonse loan from another bank but moves and applies for a Jeonse loan at Woori Bank, the loan is allowed.