SEOUL, Jan. 7 (Korea Bizwire) — South Korea said Tuesday that foreigners are also subject to tightened mortgage rules in a move to plug any possible loopholes in its efforts to stabilize home prices. The Financial Supervisory Service (FSS) said the tightened mortgage rules are being applied to both South Koreans and foreigners. Under last [...]
SEJONG, Jan. 8 (Korea Bizwire) - South Korea’s finance minister nominee said Friday that he has no plan to tighten a set of eased mortgage regulations amid rising public demand to tackle mounting household debt. The government eased the loan-to-value (LTV) and the debt-to-income (DTI) rules in August 2014, shortly after the inauguration of Finance Minister [...]
SEOUL, Nov. 19 (Korea Bizwire) – South Korean banks will likely impose tougher rules for screening mortgages in non-capital areas starting next year, joining government-led efforts to rein in the country’s runaway household debt, industry sources said Thursday. The financial authorities have asked local banks to use the debt-to-income (DTI) ratio when they screen mortgage [...]