Standard Chartered Bank Korea will suspend the handling of non-face-to-face housing mortgage loans temporarily for the management of the total amount of household loans.
According to the finance sector on the 17th, Standard Chartered Bank Korea decided to suspend the handling of new non-face-to-face housing mortgage loans until the end of September.
Additionally, starting from the 21st, it has been decided to limit the standard interest rate of the representative housing mortgage product “First Home Loan” variable interest rate product to “financial bonds with a maturity of 5 years.” This means only handling the “5-year cycle” products that change the loan interest rate every five years.
Previously, the financial authorities urged Standard Chartered Bank Korea, which has significantly increased the handling of household loans this year, to comply with the target.
An official from Standard Chartered Bank Korea noted, “This is a measure to carefully manage the total target as part of the voluntary management plan for household loans.”