Standard Chartered Korea has suspended new applications for general home-backed mortgage loans at all branches, according to a 21 July report by Seoul Economic Daily.
The report said the suspension applies to loans scheduled for disbursement through the end of October. For customers seeking that product from Standard Chartered Korea, the measure may therefore affect near-term application and disbursement planning.
The reported action is specific to Standard Chartered Korea. It does not establish that South Korean banks collectively stopped mortgage lending, and the report does not describe an economy-wide credit freeze.
No direct notice from Standard Chartered Korea or a Korean regulator was found during the bounded verification. The suspension details in this brief are therefore attributed to Seoul Economic Daily.
References
Seoul Economic Daily — Standard Chartered Korea halts mortgages as housing burden grows
