Rising Difficulty in Borrowing: Suspension of Jeonse Loans and Increased Restrictions for Multiple Homeowners
Despite falling market interest rates and the longest streak of unchanged benchmark rates at 3.50%, obtaining loans is becoming increasingly difficult. Despite falling market interest rates and the longest streak of unchanged benchmark rates at 3.50%, obtaining loans is becoming increasingly difficult. Banks have taken strong measures, including raising loan interest rates and suspending jeonse loans. Additionally, financial authorities plan to implement differential regulations starting next month to reduce loan limits in the metropolitan area. This article explores how these changes impact the lending market and what to expect in the future. Obtaining loans has become increasingly challenging, even with a frozen benchmark rate of 3.50% and falling market interest rates. Banks are responding by raising loan interest rates and suspending jeonse loans, while financial authorities are preparing to tighten loan limits starting next month through differential regulations. This has heighten...