‘LTV easing’ promised by Yoon Seok-yeol, bank stocks expected to benefit ‘Solsol’

[아시아경제 이정윤 기자] Bank stocks are expected to benefit from President-elect Yoon Seok-yeol’s pledge to ease loan restrictions during his campaign as a candidate.

According to the financial investment industry on the 13th, President-elect Yoon promised to ease the mortgage loan ratio (LTV). The plan is to unify the LTV upper limit to 70% regardless of region and to raise the upper limit to 80% for households purchasing a home for the first time in their lives. Regarding real estate tax, it is expected that the fair market value ratio will be adjusted, the comprehensive real estate tax centered on single-homeowners will be eased, and the temporary exclusion of the heavy taxation rate of capital gains tax for multi-homeowners will be promoted. In addition, the increase in the growth rate of bank household loans is high due to the expansion of housing supply with the goal of supplying more than 2.5 million units over five years and the possibility of revision of the Lease Protection Act. There are analyzes that the benefits will be limited by the policy of regulating the excessive gap between deposit and loan interest, but expectations are high.

Baek Du-san, a researcher at Korea Investment & Securities, said, “In the early days of the government, promises related to financial consumer protection and price policy were usually implemented, so the presidential election was often a negative event for bank stock prices regardless of the outcome. “There are a number of easing policies in terms of taxation, lending and supply in this field,” he explained. “Overall, it will bring slightly positive results to the banking industry,” he said.

However, there are also analyzes that there are still many variables regarding real estate-related policies. Sudden policy changes are not easy and radical easing of loan regulations in terms of system risk management is not easy. Researcher Baek said, “As various fine adjustments such as income and housing price requirements and the imposition of LTV differentials for each housing price section are accompanied by various fine adjustments, we believe that household loans will be managed at an appropriate rate in the medium term.” “Industry focusing on profitability improvement rather than loan growth The opinion is that we should pay attention to the rebound cycle.”

By Lee Jung-yoon, staff reporter leejuyoo@asiae.co.kr