US EditionRegulator to Further Tighten Curbs on Household Debts From July in Korea
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7 Articles
Regulator to further tighten curbs on household debts from July in Korea
All local lenders in Korea will be forced to sharply reduce their household lending, while home-backed loans for home purchases in the capital area will be capped at 600 million won ($442,000), the financial regulator said Friday, in an unprecedentedly aggressive move to rein in rising household debts. Starting next week, all local banks, insurers and other lending institutions will be asked to reduce their target level of aggregate household lo…
(Seoul = Yonhap News) Reporter Im Su-jeong = Starting tomorrow, when purchasing a home in the metropolitan area or regulated areas, you will not be able to receive a housing mortgage loan (mortgage loan) exceeding 600 million won.
The government's plan to strengthen household debt management centered on the metropolitan area, announced on the 27th, includes a strong real estate demand suppression measure that blocks multiple homeowners from purchasing homes using housing mortgage loans and limits the loan limit to a maximum of 600 million won for actual demanders.
[Digital Daily Reporter Kang Ki-hoon] The government plans to reduce the total management target for financial sector self-loans to 50% of the current plan starting on the 28th. To this end, high-intensity regulatory measures will be implemented, such as limiting the housing mortgage loan limit in the metropolitan area to 600 million won. According to financial authorities on the 27th, the Financial Services Commission held an 'Emergency House…
President Lee's first real estate clampdown: A 600 million won cap on mortgages
The Lee Jae Myung administration introduced stringent housing loan caps and tighter lending standards aimed at high-income borrowers in Seoul to curb rising real estate prices and speculation.
The Lee Jae-myung government has targeted high-income 'super-young people' as its first real estate policy. It has decided to prevent excessive loans from being used to purchase expensive houses by uniformly limiting the limit of housing mortgage loans (housing mortgage loans) in the metropolitan area and regulated areas to a maximum of 600 million won. In addition, housing mortgage loans for multiple homeowners will be completely banned in the …
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