Although the government has loosened regulations on jeonse loans for end users, it is expected to come up with strong measures to supplement household debt, such as increasing the amortization ratio.
Although end-users such as jeonse loans will be protected, the policy stance of strengthening household debt management is expected to be maintained, and there is also an expectation that a cold wave of loans may strike.
On the 26th, the Financial Services Commission plans to announce a plan to manage household debt, which will include early expansion of regulations on the total debt, interest and interest repayment ratio, installment repayment, and strengthening of loan review.
In a state audit on the 21st, Koh Seung-beom, chairman of the Financial Services Commission, said, "The most important thing is to strengthen the repayment ability review. contains," he said.
The early expansion of DSR regulations has become a known fact.
Tighter DRS regulation has the effect of reducing the loan limit.
A financial official said, "If the period for expanding the DSR is extended, it will have a strong effect on household debt management."
DSR stands for the ratio of principal and interest to be repaid to income.
Unlike the collateral recognition ratio, which calculates only the limit of the mortgage loan, it is a more comprehensive concept that looks at the principal and interest burden of all loans in the financial sector, such as credit loans and card loans.
Currently, the DSR regulation is applied by 40% of banks and 60% of non-banks.
The individual DSR regulations that were enforced in July are subject to mortgage loans and credit loans exceeding KRW 100 million for houses with market value exceeding KRW 600 million in speculation areas, overheated speculation districts, and areas subject to adjustment.
From July next year, the total loan amount exceeds KRW 200 million, and from July 2023, the total loan amount exceeds KRW 100 million.
If this happens, the loanable amount is greatly reduced mainly for low-income earners rather than high-income earners, and in the case of credit loans, it becomes difficult for even high-income earners to borrow.
In addition, it is expected that the same 40% as that of banks will be applied to the 2nd financial sector, where the current DSR regulation ratio is 60%.
Regarding the jeonse loan regulation, which had been strongly opposed, we decided not to apply DSR to protect the real demand of ordinary people and excluded it from the total household loan management limit in the fourth quarter of this year.
Instead, commercial banks are allowed to borrow only as much as the Jeonse price has risen, and single-family homeowners must apply for a loan at the bank window and pass the examination.
In addition, the trend of strengthening total management of household debt is expected to continue next year as it did this year.
The government set the target of managing the growth rate of household loans by banks this year at 6%, but plans to lower it to the 4% level next year.
This is because the Jeonse loan that was released this year will not be excluded from the total management next year, and the management of the loan within the increased deposit will continue.
In addition to this, as the early tightened DSR regulation and loan screening are strengthened, it seems that it will not be as easy to get a loan next year as it is this year.
(Photo = Yonhap News)