SC Jeil Bank to Fully Suspend Mortgage Loans Starting from the 29th

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[Asia Economy Reporter Kim Daehyun] SC First Bank will temporarily suspend new applications for mortgage loans starting from the 29th.

On the 27th, SC First Bank announced that it will stop selling the variable interest rate product "First Home Loan," which applies the 5-year financial bond as the base rate, starting from the 29th. The bank stated, "This is part of measures to manage household loan risks and control the increase in household loans."

As a result, SC First Bank's mortgage loans will be fully suspended for the time being. The bank had already stopped selling the First Home Loan variable interest rate products based on the 1-year and 3-year financial bonds as benchmark rates on the 7th.

However, products such as the Korea Housing Finance Corporation's T-Bogeumjari Loan and jeonse (key money deposit) loans will continue to be supplied normally.

NH Nonghyup Bank and Hana Bank have also previously suspended new mortgage loan sales temporarily.