Hana Bank has decided not to provide mortgage loans for the purpose of purchasing dwellings in the Seoul area to homeowners with multiple properties starting next week.
Hana Bank noted on the 20th that it will suspend the issuance of new mortgages for individuals who own more than one dwelling when purchasing dwellings located in Seoul starting from the 27th. However, it will continue to handle end loans.
Hana Bank will also prohibit new conditional leasehold loans in the Seoul area. This applies to matters such as priority cancellation/reduction or the disposal of multiple homeowners.
A representative from Hana Bank explained, “This measure is aimed at preventing gap investments and protecting actual demand amid a recent surge in dwelling prices and transaction volumes in the Seoul area.”
The Financial Services Commission stated the previous day that it would strengthen management of household loans in major regions, allowing financial institutions to more strictly manage household loans related to multiple homeowners and gap investments based on self-regulation.