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[Alpha Biz=(Chicago) Reporter Kim Jisun] In the future, homeowners will not be able to borrow mortgage loans for home purchases from Kakao Bank for the time being.
The blocked supply of mortgage loans by Kakao Bank, which has provided mortgage loans at the lowest interest rate in Korea, is expected to inevitably disrupt the funding plan for homeowners who plan to move.
Kakao Bank announced on its website on the 29th that it will reduce the number of mortgage loans for home purchase funds from the 30th of this month.
Kakao Bank's sudden move to reduce the number of mortgage loans has forced existing homeowners who were trying to move to another place to face a setback in their moving plans. This is because Kakao Bank has gained huge popularity among mortgage lenders by taking advantage of the simple loan process using the app and the lowest interest rate in Korea. According to the Korea Federation of Banks, the average interest rate on new mortgage loans in June was 4.02% per year for Kakao Bank, the lowest among 16 banks handling mortgage loans in Korea.
Pressure from financial authorities is cited as the biggest reason for Kakao Bank's latest move to reduce mortgage loans.
Kakao Bank previously limited the number of people eligible for 50-year mortgage loans to young people under the age of 34 from the 25th. Some predict that Kakao Bank's growth of mortgage loans will be put on hold as it has decided to drastically restrict mortgage loans for homeowners just four days after reducing the scope of 50-year mortgage loans.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
