NH Nonghyup Bank Temporarily Suspends Mortgage Loans Through Loan Brokers

Only Mortgage Loans Executed in June Will Be Suspended Starting Tomorrow
Loans Executed from July, Group Loans, and Non-Face-to-Face Loans Remain Available

NH Nonghyup Bank will temporarily suspend the acceptance of mortgage loan applications through loan brokers.

According to the financial industry on May 28, NH Nonghyup Bank has decided to suspend the acceptance of mortgage loan applications through loan brokers starting May 29, but only for loans to be executed in June.

However, applications for loans to be executed from July onward, as well as group loans, will continue to be accepted. Applications through branches or via the mobile app for non-face-to-face loans are also still available.

This measure is interpreted as an effort to manage household debt, as demand is surging ahead of the implementation of the third stage of the DSR (Debt Service Ratio) on July 1.

It is known that about half of newly issued mortgage loans in the banking sector are received through loan brokers.

Previously, in September last year, NH Nonghyup Bank also temporarily suspended the acceptance of mortgage loan applications through loan brokerage firms after their loan quotas were exhausted. At that time, other commercial banks also temporarily suspended the acceptance of mortgage loan applications through loan brokers one after another.