As the growth of household loans accelerates and banks tighten total volume controls, Woori Bank is capping the per-branch mortgage loan handling limit at 1 billion won per month.
According to Woori Bank on the 14th, starting on the 16th it will limit the monthly sales cap for loans related to dwellings (mortgage loan, jeonse deposit loan) to 1 billion won per branch. Previously, the per-branch monthly cap was limited to 3 billion won, which has now been sharply reduced to 1 billion won.
Earlier, Woori Bank limited the per-branch loan limit for loans related to dwellings to 1 billion won in Nov. last year, then expanded it to 3 billion won this year. About half a year later, it decided to cut the sales cap again.
Enrollment in mortgage insurance (MCI, MCG) will also be restricted starting on the 16th. MCI and MCG are insurance products taken out simultaneously with a mortgage loan; without this insurance, lending is only possible on the amount excluding the small lease deposit, effectively reducing the loan limit.