Seongsu Eun “I also think about ways to make DSR flexible for young people”
(Seoul = Yonhap News) Reporter Kim Nam-kwon and Kim Da-hye = Long-term mortgages (home mortgage loans) of up to 40 years will be introduced.
On the 19th, the Financial Services Commission announced the ‘2021 Financial Services Commission’s Business Plan’.
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◇ Introduced an early 40-year mortgage… “Young people now have a home with their income”
Finance Commissioner Eun Seong-soo said at a briefing, “There is a saying about how to buy a house with only a loan. If you pay a monthly rent by introducing a mortgage for 30-40 years, it is time to consider preparing your own house after 30-40 years.”
He said, “I can’t be confident about paying a 40-year mortgage this year, but I will do a pilot project once,” he said. “I will create a system that allows young people to have a home with their current income and achieve housing stability.”
It is interpreted as a willingness to create a foundation for housing stability by introducing an ultra-long mortgage that reduces the monthly repayment burden as it becomes difficult for young generations to prepare their own home due to the surge in house prices.
Chairman Eun also explained, “Young people don’t have any income, so what kind of talent they want to borrow money, but for young people, we are thinking of a more flexible way than the existing total debt repayment ratio (DSR).”
DSR is the repayment of principal and interest for all household loans divided by annual income.
The Financial Services Commission plans to introduce a plan in the first quarter of this year to change the current DSR management method for each financial institution to the repayment ability test by borrower unit (DSR 40% collectively applied) and to change the DSR calculation method so that the actual repayment ability of the borrower can be reflected. Have been announced. It has also revealed a policy to additionally consider future income in consideration of the lifetime income cycle as a way to reflect the borrower’s actual repayment ability.
At this time, it can be interpreted as a means of reviewing the flexible application of DSR to young people with low current income using the expected future income as a variable.
The Financial Services Commission also decided to expand the supply of loans for youth jeon and monthly rent, and promote the revitalization of installment repayment loans that have the effect of’tax-free installments’.
◇ Over 20% of loan loan products supplied… Diversification of housing pension collection methods
In line with this year’s statutory maximum interest rate cut (24% → 20%), we are reviewing the temporary supply of Sunshine Loan 17 interest rate cuts and loans over 20%. The purpose of this is to expand the financial supply to the policy-oriented people in order to reduce the burden of high interest rates on the common people caused by the cut in the maximum interest rate.
The method of receiving housing pensions is also diversifying, including the introduction of a payment method that increases the amount of housing pensions as they age.
In addition, a’financial loan map’ (tentative name) is created with the location and characteristic information of all financial branches and automatic teller machines (ATM) as an application (app).
In addition, in order to solve the problem of rising automobile insurance premiums and increased consumer burden due to over-treatment, we have prepared treatment and compensation standards for minor accidents, and funded at low cost by evaluating the creditworthiness of small and medium-sized businesses based on the platform’s big data. In the first half of this year, it was decided to prepare a’platform finance revitalization plan’ that supports the company.
The’digital sandbox’, which can test business feasibility with only innovative ideas, will be piloted in the first half.
(Seoul = Yonhap News) Finance Commissioner Eun Seong-soo is announcing the work plan for 2021 at the Seoul Government Complex on the 18th. 19 January 2021
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2021/01/19 12:00 sent