S. Korea to ease controls on loans for home rental: financial regulator

s korea to ease controls on loans for home rental financial regulator

Sumary of S. Korea to ease controls on loans for home rental: financial regulator:

  • “For loans taken out for jeonse in October, November and December, total-amount controls will be applied in a flexible manner,” Koh said.
  • ” Under South Korea’s decades-old jeonse system, tenants pay a large lump-sum deposit, known as key money, to the landlord, which is then returned at the end of the rental agreement, which usually lasts two years.
  • Since July, the FSC has applied stricter lending calculations for mortgage loans, called the debt service ratio (DSR), which measures how much a borrower has to pay for principal and interest in proportion to his or her yearly income.

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