Search results for jeonse loan
Finance
Shinhan Bank expands support to prevent lease fraud, subsidises guarantee fees for youth and vulnerable groups
Shinhan Bank said on Wednesday it will run a financial-cost support programme to help prevent jeonse lease fraud and strengthen housing stability for tenants. The programme subsidises fees for deposit-return guarantee products, including HF Jikim Guarantee and HUG Return Guarantee, for eligible customers. It targets youth born from 1991 to 2006, multicultural families and households including a person with a disability. The programme runs through Nov. 30, with support capped at 300,000 won per person.
Finance
Govt weighs broader loan and tax curbs on multi-homeowners and non-resident single homeowners
South Korean financial authorities are moving to tighten practices that allow multi-homeowners to extend loans, and are considering expanding limits to non-resident single-homeowners. Regulators are compiling detailed mortgage statistics to design rules, including applying a zero LTV standard to extensions. President Lee Jae-myung signalled pressure on investment and speculative single-homeownership and high-priced homes. Authorities may also tighten jeonse loan limits, raise banks’ mortgage risk weights and review property and capital gains tax thresholds.
Finance
FSC extends phase 2 stress DSR for regional mortgages by six months
South Korea\'s Financial Services Commission decided to apply phase 2 stress debt service ratio rules to regional mortgage loans through the first half of next year, extending the current treatment to June 30. The move follows the July introduction of phase 3 stress DSR, under which regional mortgages had been exempted for six months. The FSC cited the impact on household debt and conditions in regional property and construction. It will also improve home-price calculations for jeonse loan guarantee reviews, allowing recent appraisal values at a borrower\'s request from Jan. 2.