Shinhyup Restricts Multiple-Homeowners' Mortgage Loans in Seoul Metropolitan Area... Moves to Curb Balloon Effect
The National Credit Union Federation of Korea announced on the 12th that it will implement additional measures to strengthen housing loan requirements in the Seoul metropolitan area starting from the 14th.
The federation will restrict housing purchase loans in the Seoul metropolitan area for multi-homeowners.
It also plans to limit the method of handling Seoul metropolitan area mortgage loans through loan agents at credit unions outside the metropolitan area.
Along with this, daily monitoring will be intensified to continuously check the trend of household loan increases at each union, aiming to prevent a rapid surge in the scale of household loans.
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A representative of the National Credit Union Federation stated, "In line with the financial authorities' total volume regulation policy, we will continuously monitor loan trends and prepare follow-up measures to ensure that household loans are managed within the target range by the end of the year."
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