24,000 Housing and Jeonse Loan Borrowers Refinanced 4.3 Trillion Won in Loans

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It has been revealed that 24,000 borrowers with mortgage loans and jeonse loans refinanced loans worth 4.3 trillion won.

On the 4th, the Office for Government Policy Coordination held a 'Follow-up Measures Review Meeting on the Livelihood Discussion' jointly with related ministries at the Presidential Office in Yongsan-gu, Seoul, and announced this. The government decided at the 10th Livelihood Discussion on January 17 to apply the loan refinancing service, which was previously only available for unsecured loans, to mortgage loans and jeonse loans as well.

According to this measure, as of the end of last month, 18,000 borrowers used mortgage loan refinancing, with the loan amount totaling 3.3 trillion won. The average interest rate reduction through refinancing was 1.52 percentage points, saving about 2.8 million won in interest per person. In the case of jeonse loans, 5,980 people refinanced 1 trillion won. The average interest rate was lowered by 1.38 percentage points, saving 2.37 million won per person.

The government plans to continuously expand the refinancing service. On the 1st, apartment balance loans were included in the refinancing targets, and mortgage loans for residential officetels and villas will also be allowed. The refinancing period and service operation hours will be continuously improved to suit public convenience.

Meanwhile, the government announced that since banks started creating their own funds and providing interest refunds to individual business owners from February 5, 1.88 million people have benefited from 1.5 trillion won. Small and medium financial sectors such as savings banks and mutual finance also executed 300 billion won in interest refunds targeting about 420,000 small business owners from the 29th of last month.

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