Accepting New In-Branch Mortgage Applications with MCI and MCG Collateral
Applications Available Only for Loans Processed from January Next Year
Hana Bank is resuming in-branch applications for mortgage loans.
According to Hana Bank on December 18, the bank began accepting new in-branch applications for mortgage loan products backed by Seoul Guarantee Insurance (MCI) and Korea Housing Finance Corporation (MCG) collateral starting at 9 a.m. that day. Previously, Hana Bank had restricted in-person applications for mortgage loans at its branches as part of household loan management measures.
However, applications are only available for loans to be processed from January next year onward. Loans processed during December of this year are not eligible for application.
Meanwhile, banks have tightened mortgage lending in line with the government's strengthened household debt management policy. KB Kookmin Bank has completely suspended new mortgage loans scheduled to be executed within this year, except for those intended for the return of lease deposits, and has also halted mortgage loans for living stabilization funds. Shinhan Bank has stopped new mortgage loans through loan brokers, while Woori Bank has capped household loans at 1 billion won per branch per month.
Hana Bank's normalization of in-branch mortgage loan sales is interpreted as a move to accommodate real homebuyer demand expected next year.
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