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If you don’t pay in 2 weeks, you are registered as a criminal
If the top 10% of high-income people borrow more than $ 100 million, the 40% DSR applies according to other loans
If you buy a home in a regulated area like Seoul after receiving a credit loan of more than 100 million won as of the 30th, you must repay the loan within two weeks. The Total Debt Principal Repayment Rate (DSR) regulation applies to 10% of the highest earners who receive credit loans exceeding KRW 100 million.
On the 13th, the Financial Services Commission and the Financial Supervision Service announced “domestic loan management measures, such as credit loans,” which contain these details. It means that you will be targeting high-income individuals investing in real estate while attracting credit loans to catch up with the increase in loans.
Therefore, if you receive a credit loan of more than 100 million won after 30 days and you buy a home in a regulated area within a year thereafter, the loan will be repaid in approximately two weeks. For example, if a person who used a credit loan of 80 million won receives an additional loan of 30 million won after the application of the regulation and bought a house in a regulated area within a year, 30 million won is subject to collection. Failure to pay the loan will lead to arrears and can be recorded as delinquent. However, those who have already received more than 100 million won in credit loans before 30 days or have simply extended the loan are not subject to regulation.
The financial authorities decided to tighten the loan limit by also applying individual DSR regulations to credit loans. The DSR is an indicator of the ability to repay a loan as the repayment of principal and interest on all loans to be repaid divided by annual income. Currently, the DSR 40% (bank) regulation applies only to mortgage loans for new homes with a market price above KRW 900 million in speculative and overheated areas. Beginning on the 30th, high-income individuals with an annual income greater than 80 million won, which is the top 10% of their income, must undergo a DSR review to receive credit loans that exceed 100 million won. won. It means that they will lend money on a limited basis based on their ability to repay. For example, if Mr. A with an annual salary of 100 million won who borrowed 100 million won (3.5%) on a home loan of 400 million won (interest rate 3.0%, maturing to 20 years) and a loan of 100 million won wants an additional loan, the bank will examine it for itself. I loaned tens of thousands of won. Additional loans are difficult in the future. This is because the DSR limit (40%) has already been met. The authorities also strengthened the proportion of high DSR loans per bank (on a total amount basis). Commercial banks take loans that exceed the DSR 70% from ‘15% or less’ to ‘5%’ of the total loan amount, and loans that exceed the DSR 90% from ‘10% or less’ to ‘3% or less ‘. Each must get off.
Amid borrower dissatisfaction, there is already a sense of “household demand” in the market to jump on the last train before regulations tighten. A commercial bank official said: “We have very limited time to reorganize the system and understand the contents. For the moment, confusion will be inevitable. ”
Jang Yoon-jeong [email protected], Reporter Kim Ja-hyun
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