Shinhan Bank Allows Exceptions for New Mortgage Loans to Single-Homeowners with Disposal Conditions

Shinhan Bank announced that from the 10th, it will apply exceptions for actual demand borrowers regarding mortgage loans and credit loans.

First, for mortgage loans, exceptions are allowed for new purchases with disposal conditions for owners of one house. The target is borrowers who have signed a purchase contract for a new house on the condition that they sell their existing house on the day the mortgage loan for the new house purchase is executed. Required documents are the sales contract of the owned house and the purchase contract of the new house.

For mortgage loans for living stabilization funds aimed at returning tenant deposits, amounts exceeding 100 million KRW are allowed. The target is borrowers applying for mortgage loans for living stabilization funds intended to return tenant deposits of their owned house. Required documents are the lease contract of the owned house.

Additionally, for credit loans, exceptions are allowed for actual demand borrowers exceeding 100% of their annual income. Exceeding is permitted within 150% of annual income (up to a maximum of 100 million KRW). Exception conditions include personal marriage, family death (spouse or direct family), childbirth, medical expenses, etc., and supporting documents must be submitted within the deadline for each condition..