Woori Bank to Cut Mortgage Loan Limit per Branch from 3 Billion Won to 1 Billion Won

[Financial News] Woori Bank will cap its monthly mortgage loan limit at 1 billion won per branch and block enrollment in mortgage insurance (MCI and MCG).
According to the financial sector on the 14th, Woori Bank will reduce the monthly sales limit for housing-related loans, including mortgage loans and jeonse loans, at each branch from 3 billion won to 1 billion won starting on the 16th.
Woori Bank had previously limited housing-related loans per branch to 1 billion won in November last year, then raised the cap to 3 billion won earlier this year. About six months later, it has decided to cut the sales limit again.
Enrollment in MCI and MCG will also be restricted from the 16th.
MCI and MCG are guarantee-type insurance products that are purchased together when a mortgage loan is executed. If enrollment in the insurance is restricted, borrowers can only receive loans after deducting the small tenant deposit, which effectively lowers the mortgage loan limit.

stand@fnnews.com Seo Ji-yoon Reporter