[Anchor]
Loan regulations have been eased to double this year's total loan target. However, to curb speculative demand, additional jeonse loan regulations have been introduced for non-resident homeowners with a single property.
Following is the report by Reporter Park Jae-yeon.
[Reporter]
The government has decided to relax its target for household loan growth from last year's 1.5% cap up to 3%.
This adjustment creates about 4 trillion won in additional lending capacity for the five major commercial banks and around 30 trillion won across the entire financial sector.
Apartment intermediate payments and balance loans, which were difficult to process within previous limits, are expected to become more accessible.
This accommodates the demands of homeowners who had already received pre-sales, anticipating they could secure loans before regulations tightened.
[Lee Eok-won / Chairman of the Financial Services Commission: For linked loans resulting from new housing supplies, such as relocation and balance loans, we will rationally adjust the total volume target to ensure smooth transitions between pre-sales and move-ins....]
However, loans flowing into existing apartments are being tightened further.
A prime example is the decision to block jeonse loans for non-resident single-home owners whom the government has classified as speculative.
This means jeonse loans will be restricted for homeowners who own a house in a regulated metropolitan area but have never actually lived in it.
The government stated that it does not have an exact count of the number of non-resident single-home owners or the scale of loans that will be newly subjected to this regulation.
While it explained that banks can independently evaluate and issue loans in inevitable cases, it remains to be seen how this will be applied in practice on the ground.
Additionally, the guarantee ratio for jeonse loans in the capital area and regulated zones, currently at 80%, has been reduced to 70%.
A lower guarantee ratio could make jeonse loan screening relatively stricter or reduce loan limits.
With tax system revisions increasing incentives for actual residency, there are widespread concerns that jeonse supplies will shrink, and forecasts suggest the lease market could face further instability due to overlapping jeonse loan regulations.
(Camera: Cho Choon-dong | Video Editing: So Ji-hye | Design: Lee Jun-ho)
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