What Should I Do with My Moving Boxes?”…Homebuyers Struggle with Loan Restrictions
Last month, household loans surged by 10 trillion won, with interest rate hikes and loan limit reductions failing to control the situation. Last month, household loans surged by 10 trillion won, with interest rate hikes and loan limit reductions failing to control the situation. As demand for credit loans spiked, the government began considering measures to curb the balloon effect, including reducing loan limits to annual income levels. Financial institutions are tightening mortgage lending, even restricting loans to first-time homebuyers only. On September 3rd, NH Nonghyup Bank announced that starting from the 6th, it would temporarily suspend housing mortgage loans for those with two or more properties for the purchase of homes in the metropolitan area. Additionally, the bank will limit the loan amount for living stability funds to 100 million won for multi-property owners. To prevent speculative investments, conditional jeonse loans will also be temporarily halted, and mortgage...