The banking sector will continue to borrow from the banking sector for the'Household Debt Management Plan', which includes the step-by-step expansion of the target for individual DSR (Total Debt Principal Repayment Ratio) 40% from July. Assessed that this would be blocked.
In addition, as DSR replaces DTI (Total Debt Repayment Ratio),'income' becomes an important factor when dealing with mortgage loans in the future, which will lead to deviations in individual loan limits. Came out.
The target of 40% DSR for each individual is scheduled to be expanded in three stages from July to July 2023, and concerns have also been raised that demand for loans before the implementation of the revised system will increase rapidly.
Today (29th), the banking sector assessed that “the introduction of DSR by loaner is the key” for the household debt management plan announced by the financial authorities. “With the step-by-step application of 40% of the individual DSR, it will become difficult to'zero'.”
DSR is an index that calculates the principal and interest repayment burden on all loans of a borrower during loan review. It includes both credit and card loans as well as mortgage loans.
Therefore, lowering the DSR standard can have an effect in preventing'zero loans'.
An official from the banking sector said, "If you introduce individual DSR, your credit limit will inevitably be reduced compared to before the introduction."Even if a flexible income accreditation method is used, it is not easy to receive income recognition except for those with earned income, so there is a high possibility that the amount of loan available will decrease.”
In particular, in this countermeasure, when calculating the DSR, the credit loan maturity was uniformly applied as '10 years', and it was decided to gradually reduce the calculation to '7 years' (July of this year) → '5 years' (July of next year). As it was included, it was predicted that it would be difficult for the banking sector to make up for the shortfall of home mortgage loans with credit loans.
A commercial bank official said, "In the case of credit loans when calculating DSR, it has been calculated assuming that the total amount of loans is repaid in 10-year installments regardless of the repayment method, but after the change, it will be gradually reduced to 7 and 5 years." As a result, in the case of'minus bankbook', the impact on DSR increases, so there may be a situation in which the shortfall of the main agent cannot be covered by credit loans as before."
Banks predicted that if individual DSR is implemented in stages starting in July, the amount of loans available for low-income people rather than high-income people will be greatly reduced, which will be a big blow.
Currently, the case where 40% of the DSR per individual is applied to the home mortgage loan is the case of receiving a new home mortgage loan from a bank as collateral for a house with a market price exceeding KRW 900 million in a speculative or overheated district.
However, if the 40% DSR regulation for each individual is expanded to houses with a market price exceeding KRW 600 million in all regulated areas (speculation areas, overheated areas, and areas subject to adjustment) from July, high income earners have had restrictions on their lending limits due to LTV regulations. Because of this, it does not have a big impact, but for low-income people, the new DSR 40% is applied and the loan limit is greatly reduced.
For example, when A has an annual income of 20 million and receives a mortgage loan with a maturity of 20 years in the absence of other loans, DSR 70% is applied, and the maximum loanable amount is 200 million. It is 10 million won, but when DSR 40% is applied, only 126 million won is possible, which is reduced by nearly 100 million won.
Under the same conditions, if the maturity is 30 years, the loanable amount will be reduced by more than 120 million won to just 169 million won from the current maximum of 295 million won.
In the case of credit loans, the DSR 40% regulation, which was applied only to those with an annual income exceeding 80 million won and the total credit loan amount exceeding 100 million won, will be applied to those with a total credit loan amount exceeding 100 million won from July. It is expected that those with less than 10 million won will find it more difficult to obtain loans.
Commercial bank officials said, "Introduction of individual DSR will be a burden to end users who want to buy homes with mortgage loans" and "The strengthening of DSR regulations makes it more difficult for low-income ordinary people to obtain mortgage loans, and end users. They responded in common, saying, "It will be difficult to buy a house by getting a loan."
For this reason, concerns have arisen among banks that the demand for loans prior to enforcement of individual DSR strengthening will increase rapidly.
An official from a commercial bank said, "With the evaluation that the average housing price in Seoul has exceeded 900 million won, the application of the 40% DSR regulation per individual to houses with a market price exceeding 600 million won in all regulated areas from July It is expected that all fund management using real estate as collateral will be restricted. “For this reason, it is expected that people who want to purchase or own low- and middle-class houses in regulated areas will urgently apply for real estate purchases and loans prior to the introduction of the July system. If you do, the house price can go up more."
Another bank official also said, "Customers who want to receive credit loans before the implementation of the measures in July may flock to them." It looks like they're going to buy it."
On the plan to apply'LTV 70%' even when receiving land/officetel mortgage loans from banks starting on the 17th of next month, the banking note evaluated that "the impact on the market will be limited."
The financial authorities have decided to expand the LTV 70% regulation on non-home mortgage loans only to mutual financial sectors from the 17th of next month to all financial sectors.
Separately, the LTV 40% regulation for new non-housing mortgage loans in the land transaction permitted area will be applied from July.
An official from a commercial bank said, "As the scale of loans is relatively small, the expansion of the LTV limit for non-ownership is expected to have a limited impact on the market."I did it.
Other bank officials also explained, "The impact of the reduction in loan handling due to the non-leader management system is not likely to be significant," and said, "The proportion of non-maintainers among the total assets of the bank is not as high as in the second financial sector."
It was also predicted that this plan would intensify competition among banks to deal with leased loans.
In this plan, in cases where non-income repayment resources such as cheonsei loan, deposit and savings mortgage loan, insurance contract loan, etc. are recognized or there is a policy necessity (common financial products, government/local government agreement loan), small loan (less than 3 million won), etc. This is because it contains the content that the application of the borrower unit DSR is excluded when applying for a loan.
A commercial bank official said, "As cheonsei loans are included as loans that are not subject to DSR by borrowers, the competition for loans to be transferred strategically as part of the'Lending Growth Policy to Maintain Soundness' in the current banking sector is expected to intensify among banks." I said.