mortgages Archives | Be Korea-savvy

Regulator Plans to Review 40-year Mortgages for Young Adults

SEOUL, Jan. 19 (Korea Bizwire) — Financial authorities plan to review mortgage loans with a maximum term of 40 years to help young people buy their first homes, officials said Tuesday. Financial Services Commission (FSC) Chairman Eun Sung-soo unveiled the plan at a time when surging home prices make it more difficult for young people [...]

Vulnerable Households Likely to Suffer from Increased Debt Repayments After Rate Rise: BOK

SEOUL, Dec. 14 (Korea Bizwire) — An interest rate rise in South Korea will increase the debt repayment burdens of vulnerable households who over-extended themselves on mortgages during the low rate period, the central bank said Thursday. “In general, household and corporate borrowers will be able to afford an increase in debt repayment incurred by [...]