KB Kookmin Bank will limit the maximum amount for home mortgage loans (mortgage loans for home purchases) to 300 million won. This move is seen as a proactive response amid the ongoing increase in household loans.
According to the financial sector on July 8, KB Kookmin Bank will reduce the maximum limit for home purchase loans from the previous 600 million won to 300 million won, effective July 10. This measure will remain in place until further notice.
For homes in the metropolitan area and regulated regions, the loan limits will be adjusted as follows: for homes priced at 1.5 billion won or less, the limit will decrease from 600 million to 300 million won; for homes priced between 1.5 billion and 2.5 billion won, the limit will drop from 400 million to 300 million won; and for homes priced above 2.5 billion won, the limit will remain at 200 million won.
In non-metropolitan areas, where there were previously no specific loan limit restrictions, the maximum limit will also be reduced to 300 million won.
However, to protect genuine homebuyers, loans for moving expenses, group loans for interim payments, fund loans, and loans for victims of rental fraud will be excluded from this limit. KB Kookmin Bank's refinancing loans and debt assumption due to inheritance, which do not involve an increase in loan amounts, will also be exempt from the limit.
A representative from KB Kookmin Bank stated, "This action is aimed at proactively managing household loans and adjusting our portfolio. We will continue to consider the protection of genuine homebuyers and the stability of the financial market in our management approach."
According to the financial sector on July 8, KB Kookmin Bank will reduce the maximum limit for home purchase loans from the previous 600 million won to 300 million won, effective July 10. This measure will remain in place until further notice.
For homes in the metropolitan area and regulated regions, the loan limits will be adjusted as follows: for homes priced at 1.5 billion won or less, the limit will decrease from 600 million to 300 million won; for homes priced between 1.5 billion and 2.5 billion won, the limit will drop from 400 million to 300 million won; and for homes priced above 2.5 billion won, the limit will remain at 200 million won.
In non-metropolitan areas, where there were previously no specific loan limit restrictions, the maximum limit will also be reduced to 300 million won.
However, to protect genuine homebuyers, loans for moving expenses, group loans for interim payments, fund loans, and loans for victims of rental fraud will be excluded from this limit. KB Kookmin Bank's refinancing loans and debt assumption due to inheritance, which do not involve an increase in loan amounts, will also be exempt from the limit.
A representative from KB Kookmin Bank stated, "This action is aimed at proactively managing household loans and adjusting our portfolio. We will continue to consider the protection of genuine homebuyers and the stability of the financial market in our management approach."
* This article has been translated by AI.
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