The muddy spoon couple cries again… “You can’t believe they discriminate just because they didn’t have children” [부동산 아토즈]

Panoramic view of Seoul apartment. Photo = Newsis

[파이낸셜뉴스] An era has begun where even those with a golden spoon can receive ‘special treatment’ when purchasing a home if they have a child. Low-income, low-income households were mainly the target of policy consideration, but as government policy focuses on low birth rates, various benefits are being granted to households with childbirth. Representative policies include special loans for newborns and priority/special provision for newborns.

Even if you have an annual income of 200 million won, you can get a special loan for newborns… they are all tight.

<img id="202411081552051232" src="https://image.fnnews.com/resource/media/image/2024/11/08/202411081552051232_l.jpg" alt="Source: Ministry of Land, Infrastructure and Transport and Kyoto” fetchpriority=”high”/>

Source: Ministry of Land, Infrastructure and Transport and Kyoto

The government plans to reduce the stepping stone loan limit, a policy loan product for apartments in the metropolitan area, starting next month. This loan is a low-income loan that a married couple with a combined annual income of less than 60 million won receives when buying a house worth less than 500 million won. There is quite a bit of criticism regarding the reduction in lending to the common people. The opposition from residents outside the metropolitan area is particularly strong.

What is noteworthy is that among stepping stone loans, no regulations are applied to the ‘Newborn Special Loan’, which is applied to households with newborns. Rather, it was decided to relax the annual income requirement for applying for a loan from the current 130 million won to 200 million won for a couple.

Special loans for newborns apply to babies born after January 1, 2023. This is a product that allows non-homeowners who have given birth to a child within two years of the loan application date to receive a loan at an annual interest rate of 1-3% when purchasing a house of less than 85㎡ (metropolitan area) for less than 900 million won. For single-home owners, refinancing loans are also possible.

Currently, the combined income of couples is less than 130 million won per year, but it will be expanded to 200 million won starting next month. An official from the Ministry of Land, Infrastructure and Transport said, “We plan to relax the income requirements only for households where both spouses have income,” and added, “Detailed loan conditions, including interest rates, will be announced later.” In other words, from now on, even high-income dual-income couples with an annual income of 200 million won will be eligible for a special loan for newborns.

Source: Ministry of Land, Infrastructure and Transport

Apartment special forces reorganized… From income to newborn

Households with newborns also have an advantage when making subscriptions. Currently, a priority provision system for newborns is being implemented in private housing. When selecting winners of special supplies for newlyweds or first-timers, the key is to first allocate 20% of the total supply to households with children under the age of 2. The more newborns there are, the better.

In the past, it was based on income. When selecting winners of newlyweds and first-time special supply, 50% of the volume was supplied first to applicants with income below the standard, and 20% was supplied first to applicants with higher income and below general income.

Note: Notice on recruitment of tenants in a certain complex Source: Subscription Home

However, currently, the selection criteria for newlyweds and first-timers have changed to newborn → income → ranking → region → number of minor children → lottery, etc. In other words, even if your income is below the standard income, if you do not have a newborn, your chances of winning are slim.

In the case of public housing, the number of special cases for newborns has increased. The ‘Newborn Special Supply’ available for subscription at ‘New: Home’ can be subscribed to by households with children under the age of 2, including fetuses, as of the date of the resident recruitment announcement.

In the case of houses with a price cap in Gangnam, the sale price exceeds 2 billion won. Financial assets are not included when calculating special income. An industry insider said, “The gist of the current system is to give unprecedented preferential treatment to households with new births, even if they have a silver spoon.”

ljb@fnnews.com Reporter Lee Jong-bae

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