Shinhan Bank announced on the 16th that it will partially ease some of the household loan restrictions that were temporarily imposed.
Shinhan Bank plans to gradually relax restrictions on mortgage loans, jeonse deposit loans, and credit loans. However, actual loan disbursements will be possible starting January 2nd of next year.
Woori Bank has raised both the upper and lower limits of its 5-year fixed-rate mortgage loan interest rates by 0.11%, while Shinhan Bank plans to increase its mortgage loan interest rates by 0.05% starting from the 15th. The photo shows a promotional notice for the Housing and Urban Fund trustee bank posted at the entrance of a Shinhan Bank branch in Seoul. Photo by Kang Jin-hyung aymsdream@
For mortgage loans, starting from the 17th, the loan limit for living stabilization funds will be raised from 100 million KRW to 200 million KRW, and the handling of the Plus Mortgage Loan (MCI) will resume. Additionally, loan agent applications will also resume.
Jeonse loans will also resume handling newly supplied properties (unregistered) from the 17th, and jeonse deposit loans for homeowners with one house will be reinstated. Credit loans will lift the income-based limit (within 100% of annual income) from January 2nd next year, and non-face-to-face loans will also resume.
However, Shinhan Bank will maintain some restrictions. The loan maturity limit for mortgage loans (30 years) and the suspension of mortgage loans for new purchases by existing homeowners will remain unchanged. Also, the suspension of conditional jeonse loan handling will continue as is.
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