'Conditional on Housing Disposal' Also Not Eligible for Loans
Regulations that prohibit mortgage loans to people who own even one house are spreading throughout the banking sector.
According to the financial sector on the 6th, Shinhan Bank decided through an internal meeting to allow mortgage loans for new home purchases only to households without a home starting from the 10th.
They will also no longer handle mortgage loans with the condition of disposing of an existing home for those who already own one house.
Additionally, from the same day, the interest-only grace period will be eliminated, and credit loans will be limited to a maximum of the borrower's annual income. From the 13th onward, the maximum limit for overdraft accounts will be restricted to 50 million won.
Previously, Woori Bank, KB Kookmin Bank, and K Bank also announced restrictions on mortgage loans for one-home owners.
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