KB Kookmin Bank will reduce the loan limit for home purchases.According to the financial sector on t..

KB Kookmin Bank will reduce the loan limit for home purchases.

According to the financial sector on the 8th, KB Kookmin Bank will reduce the maximum loan limit for home purchases in the Seoul metropolitan area and regulatory areas from 600 million won to 300 million won from the previous 10th.

The maximum limit of 300 million won will also be applied to loans for home purchases outside the regulated area.

However, collective loans such as migration expenses, intermediate payments, and balances, as well as funds loans, home loans, and loans for purchases and entertainment funds for victims of jeonse fraud are excluded from the limit.

KB Kookmin Bank’s loan-to-value loans, re-loans, and debt acquisitions resulting from inheritance, which do not have an increase in loans, are also not subject to exceptional limits.

For home purchase loans that exceed 2.5 billion won in sales prices in the Seoul metropolitan area and regulated areas, the maximum limit of 200 million won will be applied according to the existing standards.

An official from KB Kookmin Bank explained, “It is a self-management plan to manage household loans stably and preemptively adjust the portfolio,” adding, “We plan to operate while considering the protection of end-users and financial market stability together.”