[Anchor]

The second half of the year has just begun, but banks are already tightening their lending policies.

[Reporter]

Last week, Kookmin Bank reduced its mortgage loan limit by half to 300 million won.

Following this, banks are raising the bar for loans one after another as they reach 80 percent of their annual household loan targets.

While no other bank has yet reduced the mortgage limit itself like Kookmin Bank, they have begun by tightening the loan application process.

A prime example is the loan solicitor channel.

Loan solicitors are sales staff who provide loan consultations and accept applications outside of the bank.

Hana Bank suspended loan solicitor applications for mortgages and jeonse (lump-sum housing lease) loans scheduled for execution in September, effective from the 10th.

Just a week ago, they had only blocked applications for August, but this has now been expanded to include September.

Shinhan Bank has completely suspended all loan solicitor applications for this month, and NongHyup Bank has already exhausted its loan solicitor quota for this month.

The problem is the so-called balloon effect, where loan demand blocked at Kookmin Bank shifts to other banks.

In fact, there are reports of an increasing number of customers who intended to borrow from Kookmin Bank inquiring about which other banks offer higher loan limits.

The growth in loans also shows no signs of slowing down.

As of the 10th, the balance of household loans at the five major banks exceeded 776 trillion won, having increased by more than 1 trillion won just this month.

This is largely due to the delayed impact of housing transactions that increased in April and May now being reflected in loan executions, combined with the demand for credit loans from those looking to invest in the stock market as it performs well.

In the banking sector, there are predictions that if the current growth trend continues, more banks may follow Kookmin Bank in reducing loan limits or restricting new loan applications.

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Reported by Han Ji-yeon | Written by Kim Da-yeon | Produced by SBS Digital News