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Mortgage Prepayment Remarks

Time: 2016-11-22         Source: Financial 360 finishing         Author: 360 Financial consolidation

Most banks require at least one year of repayment before they can applyRepayment in advanceHowever, there are also individual banks that can apply for early loan repayment at any time. In state-owned banks, BOC and CCB need to repay loans for one year before they can apply for early repayment of loans. ICBC will need to be able to repay loans in advance for six months. In addition, banks such as China Merchants Bank and Bank of Communications need a year to apply for early repayment.HSBC BankIt means that you can apply for repayment at any time. The general mortgage period is more than 10 years. During this period, it is unavoidable for the central bank to adjust interest rates, and the timing of interest adjustment by banks is also inconsistent. Most Chinese-funded banks such as ICBC, Agricultural Bank of China, China Construction Bank, etc., generally begin to adjust their new repayment interest rate on January 1st each year according to the recent benchmark interest rate of the central bank. Foreign banks generally choose to adjust in the current month or the current quarter. Citibank will implement the new interest rate at the beginning of the next quarter, and HSBC will begin to implement the new interest rate on that day. For the mortgage lenders, which kind of interest rate adjustment is more cost-effective? Experts said that if you are in the interest rate cut channel, it is obviously faster to adjust the more cost-effective; if you are in the interest-rate cycle, it is more cost effective to adjust it later. Citizens choosePrepaymentIn general, a handling fee, also known as "penalty" or "liquidated damages," is usually given in the contract. State-owned large-scale construction, agriculture, China, construction, and pay-in, the bank does not charge fees for early repayment, while ICBC needs to receive 2 to 3 months of interest as a handling fee, and other banks need to receive one-month interest. Among them, a one-month interest rate that ABC repays in advance within three years of the loan is used as a handling fee, and no fee is charged after three years. Bankers reminded that whether or not the loan is completed within the contract period, or repayment in advance, the public should not forget to apply for cancellation of mortgage registration after the repayment is completed. According to the different circumstances of the ownership certificate, the procedures for reclaiming the title certificate after the loan is also divided into several types. The simplest case is that the original copy of the title certificate has been mortgaged to the bank. If this is the case, the homebuyers will also have completed the loan, or will receive a repayment certificate after the loan is completed in advance. The bank will also return the original of the title certificate and the original purchase and sales contract to the buyers. In this way, homebuyers can get back their own ownership certificates and have nothing to do with the banks. However, because the operating rules of different branches of different banks are not uniform, some branches only need to make a mortgage registration, and home buyers can hold real estate certificates with a mortgage registration mark. Before the loan is repaid, get the real estate permit in advance, and other items on the real estate license will indicate the current status of the house. If this is the case, after the buyer has finished the loan, in addition to repeating the above steps, he will also perform a procedure to cancel the mortgage registration. After the purchaser and the bank have completed the settlement procedures, they will go to the Housing Authority to cancel the mortgage registration, that is, the cancellation of the chapter in the real estate certificate and other items.

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