HUG 전세보증보험 가입 Complete organization of HUG lease guarantee insurance (how to subscribe, procedures and documents)

Detailed Manual for HUG Chonse Guarantee Insurance Subscription
In order to keep the deposit safe during housing lease contracts, it is essential to subscribe to lease guarantee insurance, and the subscription rate is steadily increasing as it is mandatory to subscribe to lease guarantee insurance. HUG 전세보증보험 가입

 

In this post, I will explain everything about HUG charter guarantee insurance in detail.

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Table of Contents

 

How to sign up for HUG charter guarantee insurance
Description of HUG lease guarantee insurance product
deadline for application
Target housing
Guaranteed limit
Warranty Conditions
Guarantee rate
Discounts and surcharges on guarantee fees
HUG Chonse Guarantee Insurance Application Procedure
HUG Submission Documents
How to sign up for HUG charter guarantee insurance
There are two main ways to apply for a deposit return guarantee through HUG: “direct visit” or “mobile application”. For reference, in the past, “HUG Internet Guarantee” applied on the HUG website was possible, but now it has been converted to “HUG Mobile Guarantee.”

HUG 전세보증보험 가입

1. You can apply by visiting the HUG branch or the consignment bank.

Consignment banks: Shinhan, Kookmin, Woori, Gwangju, KEB Hana, IBK Corporation, NH Nonghyup, Gyeongnam, Suhyup, Daegu Bank, Woori Bank, Kookmin Bank

2. You can apply through the app below on your mobile.

Naver Real Estate > Financial Products > Guarantee of Return of Jeonse Deposit
Kakao Pay > Simple Insurance > Guarantee of Return of Jeonse Deposit
KB Kookmin Card > Kukka Mall APP > Life Shop > Jeonse Guarantee
Mobile HUG App

Description of HUG lease guarantee insurance product
deadline for application
The warranty application deadline depends on whether the charter contract is new or renewed.

 

New contract: Half of the lease period has elapsed from the late date of the remaining date in the lease contract and the date of notification of move-in
Renewal contract: Before 1/2 of the lease period has elapsed in the lease contract
In short, regardless of new/renewal, you can sign up before half of the lease on a deposit basis contract period has passed from the balance date. Then, even if you move in late, you won’t have to pass that date. However, I recommend you to sign up right after signing a lease on a deposit basis.

 

Target housing
The target houses are mostly residential houses and are as follows.

 

detached house, multi-family house, multi-family house, row/multi-family house, elderly welfare house, residential officetel, apartment
It should be noted that in the case of residential officetels, the phrase that the house is used for residential purposes should be written in the main usage column in the contract.

 

Guaranteed limit
·Guaranteed limit: House price – Senior bond

 

All lease deposits cannot be guaranteed, and the price of the house excluding senior bonds can be guaranteed. Senior bonds refer to the right to receive money before me, including taxes, bank loans, or senior lease deposits.

 

The housing price calculation method is summarized in the table below and is applied in the order of application order.

A table explaining the method of calculating the housing price of an apartment in HUG Jeonse Guarantee Insurance
Method of calculation of housing price (apartment)
Table describing the method of calculating the prices of houses other than apartments of HUG Jeonse Guarantee Insurance
Method of calculating housing prices (other housing)
Table explaining how to use appraisal report to calculate the price of HUG lease guarantee insurance
How to calculate housing prices (using appraisal report)

Warranty Conditions
In order to subscribe to HUG Chonse Guarantee Insurance, you must meet the following conditions.

 

You must live in the house after receiving a notification of moving in and a fixed date.
The important part of this is that if you report a transfer during the lease period, you will lose your right to pay first. These three requirements are important when signing up, but they must be maintained during the lease period.
[Case] A news article about the case of not being able to return the lease deposit

The following contents must be checked in the certified copy of the register
– What to check in Gap-gu: There must be no infringement of rights such as auction application, seizure, provisional seizure, provisional registration, etc. for the house as of the date of issuance of the guarantee.
– What to check in Eul-gu: You need to make sure that senior bonds do not exceed 60% of the price of your home.

The house price must be greater than the sum of the deposit and senior bonds
If the sum of the lease deposit and senior bonds is higher than the housing price, there will be crimes that abuse it, and it is impossible for HUG to guarantee the lease amount

The following contents must be satisfied in the lease contract
– The lease contract period must be at least one year.
– It must be a lease contract signed through a real estate agent
– The deposit amount should be less than 700 million won in the Seoul metropolitan area, and 500 million won or less in other areas.

The sum of senior bonds and senior guarantees of tenants in multiple and multi-family homes should not exceed 80% of the house price.

Guarantee rate
The guarantee rate varies depending on the guarantee amount, housing type, and debt ratio, and you can check the details through the table below.

For simple comparison, remember that the highest guarantee rate at HUG is 0.154%.

 

The guarantee fee is calculated daily, and the formula is calculated as follows.

Warranty fee: Guarantee amount × Guarantee fee rate × Jeonse contract period ÷ 365
Table showing the HUG deposit return guarantee rate
HUG deposit return guarantee rate

Discounts and surcharges on guarantee fees
If you are included in the discount list below, you can get a discount on the warranty fee. (Additional documentation required)

Conversely, if the amount of senior bonds exceeds 50% of the house price, a 10% premium will be added.

 

[Guarantee fee discount target and discount rate]

Table describing HUG lease guarantee insurance premium discount targets
HUG lease guarantee insurance premium discount target

[Document for guarantee fee discount]

Table explaining the documents submitted for HUG lease guarantee insurance discount
Documents subject to discount on guarantee fees

HUG Chonse Guarantee Insurance Application Procedure
The procedure is carried out in four steps as follows.

 

Confirmation of availability of warranty application
The lessor or lessee of the lease on a lease on a deposit basis must ensure that it meets the warranty targets and warranty conditions described above.
You can check how to check it on the HUG site in advance, or you can check it while proceeding with the registration process on the mobile app.