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[Alpha Biz=(Chicago) Reporter Kim Jisun] Kakao Bank has decided to impose an age limit of 34 years or younger on ultra-long-term mortgage loans with a 50-year maturity.
On the 24th, Kakao Bank announced 'Guidelines to Change the Maturity of Mortgage Products', which calls for the establishment of age conditions for each maturity of the mortgage loan.
As a result, only those under the age of 34 can choose the 50-year maturity.
Only those aged 35 to 39 with a 45-year maturity and those aged 40 or older with a 40-year maturity can choose. There is no age limit for maturity of 15, 25, and 35 years. It will be applied from the application and agreement on the 25th.
Meanwhile, financial authorities pointed out the problem that 50-year mortgage loans are used as a means of bypassing the Debt Service Ratio (DSR) regulation.
As financial authorities pointed out, banks that paid 50-year mortgage loans seem to stop selling or set age limits.
NH Nonghyup Bank has decided to end sales of 50-year mortgage loans at the end of this month, and BNK Kyongnam Bank will temporarily stop handling 50-year mortgage loans from the 28th.
BNK Busan Bank has also decided to review the launch schedule of the 50-year mortgage loan, while Sh Suhyup Bank and Daegu Bank will impose an age limit of 'under 34 years old' on the 50-year mortgage loan.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
