Hana Bank has resumed accepting applications for mortgage loans and jeonse loans through loan agents. This move is seen as a response to financial authorities expanding the household loan growth target for banks, indicating a relaxation of lending regulations.
According to the financial sector, Hana Bank began accepting applications for the November execution of mortgage and jeonse loans through loan agents starting today. This follows a ten-day suspension of such applications, which was halted on August 21. Loan agents are sales channels that enter into contracts with banks to provide loan consultations and accept applications.
The increase in the household debt growth target appears to have led to some easing of related regulations. Earlier this month, Hana Bank implemented measures to manage household loan growth, including halting new applications for non-face-to-face mortgage loans, capping overdraft limits at 50 million won, and stopping new variable-rate mortgage loans.
Shinhan Bank has also decided to resume accepting loan applications through agents, which had been suspended for the purpose of managing total loan amounts. This decision aligns with the financial authorities' recent adjustments to the household debt growth target.
Previously, financial authorities announced plans to double the household debt growth target for this year from 1.5% to 3.0%. As a result, the overall household loan growth target for the five major banks is expected to increase by approximately 2.64 trillion won this year.
* This article has been translated by AI.
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