First-time homebuyers will see the loan-to-value(LTV) ratio consolidated to 50 percent for both speculative and non-speculative areas.

Financial authorities announced on Thursday measures to ease financial regulations as a follow-up to the eleventh emergency economic livelihood meeting presided over by the president earlier in the day.

The move apparently aims to help people finding it difficult to buy homes or move amid sluggish transactions and tighter regulations.

Specifically, first-time homebuyers and single-home owners who want to dispose of their existing residence will be eligible for the 50 percent mortgage loan even for houses worth over one-point-five billion won in speculative districts.

Previously, the applicable LTV ratio depended on the number of houses a person owned, house prices and whether the area was prone to speculative investment.
 
For multiple-homeowners, however, the current regulation of 60 percent LTV for non-speculative areas and zero percent for speculative areas will still apply.