[Friendly Economy] The second financial sector also sees 'ability to pay off debt'
I will share a friendly economy with Kwon Ai-ri's economy in daily life. Kwon, it seems that getting a loan from today is becoming more difficult. What is changing? It has been a little over half a year now that it has become more difficult to receive household loans at commercial banks.
I will share a friendly economy with Kwon Ai-ri's economy in daily life. The author, starting today (17th), is getting more complicated to receive a loan What is changing?
It has been a little over half a year now that it has become more difficult to receive household loans at commercial banks. Starting today, it will be more difficult to borrow money from the second financial sector, such as mutual credit unions such as savings banks, agricultural cooperatives, water cooperatives, livestock cooperatives, card companies and insurance companies.
There is a slight difference depending on where you borrow or what kind of finance. It's called DSR. I compare the annual income of a person who wants to receive a household loan with the total debt to repayment rate, how much of the money this person makes every year, actually getting into debt repayment every year, It is a system that it is difficult to manage additional loan if it seems.
Even if you have expensive collateral such as housing. "The income is too low for the money to borrow," or "I already have a lot of debt other than our own bank."
The debt here is of course mortgage and credit. We take into consideration all the principal and interest of the debts, such as loans secured by the deposit guarantee, minus account books, and automobile payments.
Exceptions are those of ordinary people's policy loans such as step-by-step bank loans, or in the case of a deposit loan, there are only a few exceptions.
The commercial bank started to manage this in earnest from the end of last year. As of today, financial institutions have come to the standards of the two financial institutions so that they can take a closer look at the extent of the borrower 's ability to pay off their debts.
I think some of the people in the second banking sector have a lot more debts than those in the financial sector.
There is a big difference. I looked into new loans in the last quarter of each financial sector. If the average annual income of the bank lenders is only 100 won, the annual borrower's debt is 41 won. So 41%.
A year ago, when the system was piloted, it was definitely down from the average of 52%. But when I look at mutual financing lenders such as Nonghyup and Suhyo, this was an average of 262%.
Savings banks and capital were around 110%. On average, the debt is more than income.
In the future, the NACF and KCWA aim to reduce this to an average of 160% by the end of 2021. Savings banks have been reduced to 90%.
To do this, for example, there will be a lot of savings and mortgage loans in savings banks that have not been able to prove their income so far.
If you do not pay your income and your loan goes out, DSR thinks it is up to 300% and starts to calculate DSR of the borrower.
So it would be easy for financial companies to meet the goals of the financial authorities. Now, more than 15% of outgoing loans from savings banks are stock-backed loans, and more than 90% of them have been paid without income.
Starting today, if you are one of those people who are willing to take out these loans, you will have to prove your income. I mean, getting a loan is a little more difficult.
There are some parts that are fine-tuned. Let me introduce it.
I have seen some things that need to be improved from what I have done so far. The DSR calculation differs in the amount of principal that I have to pay annually, depending on what loan I get.
For example, a loan, such as a mortgage on a mortgage, assumes that I am paying the total amount of the loan I have borrowed for the next four years, regardless of the condition of the repayment.
Negative accounts count for ten years. Until now, loans secured by deposits and savings have included the principal as mortgage loans.
But yes, savings are a very stable asset. In the future, I will change the DSR calculation to look like this.
So, if you have a mortgage loan, you will get a bit more advantage in calculating DSR in the future. I can afford to borrow a little more. I can talk like this.
And not just the income withholding receipt, but also the people who receive the national pension, the health insurance premiums, the rent, and some indirect proof of my income.
If you prove your income in this way, your income will be subtracted. However, this is either 'very reliable material' or 'I have written more than two such materials.' In this case, I decided to cut the income less than before. Then you'll have a little more money to borrow.
Mutual financing, that is, farmers and fishermen who use agricultural cooperatives and fisheries cooperatives, can use the union shipment results as proof of income in the future.