Popularity of changing bank loans… Application amount exceeds 4 trillion
Sparking competition between banks… Interest rate lowered to 3% per year
Interim loans cannot be repaid… Borrowers burdened with high interest rates
Chairman of the Financial Services Commission said, “We will look into it,” but there is still no response
[사진 제공 = 연합뉴스]
As the interest rate on mortgage loans in the banking sector has fallen to around 3% per annum, demand for switching to a lower interest rate is rapidly increasing.
Since last month, as mortgages have been included in the financial authorities’ ‘online and one-stop refinancing loan infrastructure’, the amount of applications for mortgage transfer services has exceeded 4 trillion won.
However, not only can the intermediate payment loan in the form of a mortgage, which is a group loan received when selling an apartment, not be replaced, but many of the borrowers who took out loans in the second half of 2022 are currently bearing interest rates exceeding 6% per annum, leading to a large interest burden. It’s a situation.
The petition asking “Please improve the loan system for intermediate payments” has reached over 50,000 people.
According to the National Assembly National Consent Petition website, the petition for ‘Reduction of additional interest rate for intermediate payment loans and system reform’ posted in March of last year received 50,000 consents, which is a requirement for review by the National Assembly’s standing committee under the National Assembly Act.
The petitioner said, “The bank says that intermediate payment loans are made by setting the interest rate based on the construction company’s credit,” and “Because they won the subscription, the borrowers must pay the interest on the loan received by the construction company without comparing interest rates by financial company. “He explained the background of the petition.
He also appealed, “Because intermediate payment loans are group loans, we cannot use the right to demand an interest rate reduction,” and “please set and adjust an additional interest rate that is at least acceptable.”
Interim loan is a product provided by financial companies such as banks to borrowers (loan recipients) moving into remodeling or new apartments who meet certain requirements, and is arranged by construction companies. The stability of the pre-sale business and the credit rating of the construction company have a significant impact on the interest rate of the intermediate payment loan.
Because of this structure, they are not subject to the right to request interest rate cuts due to promotions, conversion to full-time employees, salary increases, or credit score increases.
The petition was discussed at the Political Affairs Committee, a standing committee under the National Assembly, on June 15 last year.
During the discussion, Progressive Party lawmaker Kang Seong-hee, a member of the Political Affairs Committee, asked Financial Services Commission Chairman Kim Joo-hyun, saying, “There is a problem that only the intermediate payment loan interest rate is going down while other loan interest rates are going down,” adding, “I think there needs to be a measure regarding the intermediate payment loan interest rate as well.”
Minutes of the 407th National Assembly Political Affairs Committee meeting, June 15, 2023.[자료 제공 = 국회사무처]
Accordingly, Chairman Kim introduced that the financial authorities are making efforts that could put great pressure on banks to lower lending interest rates, such as a refinancing loan system that has never been tried in the world.
At the same time, he said, “I understand that construction companies (as representative financial institutions that provide intermediate payment loans) usually use it to submit the lowest (interest rate) when bidding,” and “What happens after that, and then the government’s policy efforts?” “We will look further into what relationship this has with efforts to lower interest rates,” Chairman Kim said.
Representative Kang said that 50,000 people agreed to the related petition and asked, “Please consider lowering the interest rate on intermediate payments even a little.”
Chairman Kim replied, “We will look into it,” but in conclusion, after eight months of discussion, there has been no alternative that borrowers of intermediate payment loans who are paying high interest rates can expect.
Why are there complaints about mid-payment loans? Focus on complaints last year
As a result of Min Byeong-deok, a member of the Democratic Party of Korea, analyzing the bank’s additional interest rates for workplaces where complaints about interest rates for deposit loans were filed with the Financial Supervisory Service in the first half of last year, there was a difference of 1.88 percentage points from a minimum of 1.42% to a maximum of 3.30% during the six months when sales of the relevant workplaces were made in 2022. It appeared that there was
It is a pre-sale business in the same area, but depending on the bank, in the case of a business in Gwanak, Seoul, Bank A applied an additional interest rate of 2.57% points and Bank B applied an additional interest rate of 1.80% points to the intermediate payment loan.
At the Hwaseong business site in Gyeonggi Province, it was also confirmed that the difference in additional interest rates between banks widened by more than 1 percentage point.
Rep. Min pointed out, “Banks are conveniently conducting interest business,” and “We need to establish principles for interest rates that are operated in an opaque way.”
[자료 제공 = 금융감독원]
Looking at the status of complaints received by the Financial Supervisory Service regarding intermediate payment loans from January to May of last year from 2021, it was found that there were 89 cases in 2021, 54 cases in 2022, and 74 cases from January to May last year. In particular, civil complaints appear to have been concentrated last year when intermediate payment loans, which were handled in the second half of 2022, the period of interest rate hikes, were implemented in earnest.
If you look at the numbers alone, it may not seem like there are many complaints, but due to the nature of group loans, many complaints about intermediate payment loans are sometimes counted as one complaint. This means that the actual number of complaints is higher than this.
For example, in an apartment complex with 3,000 households, if a complaint regarding an advance payment loan is filed by a representative of a prospective resident on behalf of 3,000 households, the complaint for 3,000 households will be filed as one case.
Financial authorities are planning to increase the target housing types and improve convenience of use, as switching between home loan and jeonse loan has been very popular since the beginning of the service, but it is reported that they are not considering intermediate payment loans.
Meanwhile, in the case of the mortgage transfer service, a total of 23,598 borrowers have completed applications for new loans as of the 7th of this month since the service was launched on January 9th. The application size is approximately 4.2 trillion won.
Among the borrowers who applied, the total number of borrowers who have completed all loan transfer processes is 5,156, and the amount of loan transfer is approximately KRW 977.7 billion. Borrowers who changed their loans to a lower interest rate experienced an average interest rate drop of about 1.55% points and a loan interest savings of 2.94 million won per person per year.
2024-02-17 04:10:11
#Money #flying #crazy.. #Intermediate #loan #replaced #interest #rates #home #loans #falling
