The exit of the household debt management plan

The government and financial authorities announced a “household debt management plan,” while the banking sector predicted that the lending limit would be significantly reduced for low-income earners.

According to the financial sector on the 30th, the Financial Services Commission announced the “Household Debt Management Plan” the day before and decided to apply 40% regulation of DSR (total debt repayment ratio) 폰테크 applied to each bank to borrowers step by step. DSR accounts for the annual principal repayment of all loans, including mortgages, credit loans, and card loans, in annual income.

The key to this household debt management plan is to apply DSR regulations, which are currently applied to financial institutions, by borrower. Currently, only the average (40%) for each bank is required, and by borrower, DSR has received more than 40% of loans, but it is prohibited in the future.

First, the Financial Supervisory Commission decided to apply ‘DSR for borrowers’ even when using mortgage loans with more than 600 million won in the entire regulated area including the adjusted area from July to July. Credit loans eliminate income requirements and are subject to DSR regulation with loans over 100 million won.

The government will further strengthen the regulation to two levels starting next July. If the total loan exceeds 200 million won, the 40 percent regulation will be applied to DSR. From July 2023, the company plans to expand the scope of regulation by applying the three-step system to the entire DSR 40% regulation, which exceeds 100 million won in total loans.

In addition, in the case of credit loans, DSR 40% regulation was applied only if the annual income exceeded 80 million won and the loan exceeded 100 million won. However, from July, it will be applied to credit loans exceeding 100 million won regardless of income

The bank said that the low-income group will be hit hard when the “household debt management plan” is announced.

This is because the loan limit is determined according to income as DSR is applied to mortgage loans that have been based on collateral value.

In addition, high-income earners could not receive enough loans even if they were supported by the repayment ability due to the 40% regulation of LTV (40% of speculative and speculative overheating districts and 50% of adjusted areas). However, low-income people were able to borrow a lot of money compared to their income, but it is pointed out that if they start to pay for their individual repayment ability, the loan limit will be significantly reduced compared to high-income earners.

An official of a commercial bank said, “There have been many households using credit loans other than mortgage loans to fill the shortage of money when buying a house.” In the future, it will be difficult to buy a house by attracting various loans as the total loan limit is set. “He said.

“The blow to low-income people is inevitable,” the official said. In the case of high-income earners, mortgage limits are often not raised under LTV regulations. In other words, if the bank releases the credit limit, it can receive a loan by combining credit loans with the main loan (housing mortgage).However, in the case of low-income people, the limit on loans will be reduced due to DSR regulations. “

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