What does the unified batch conversion of housing loans mean?
Conversion refers to changing the pricing benchmark of floating rate loans from the original central bank loan benchmark interest rate to lpr. According to Announcement No.30 of the People's Bank of China (20 19), the borrower can not only convert the interest rate pricing method into lpr pricing basis, but also choose to convert it into fixed interest rate. The specific interest rate type can be selected according to the individual's actual situation.
In principle, the conversion should be completed before August 3, 20201,but some borrowers did not confirm whether to convert in time. Therefore, some banks will convert the existing individual housing loan pricing benchmark that meets the conversion conditions into lpr in batches before August 3, 20201,and send batch conversion notices to relevant borrowers.
If the borrower does not want to carry out batch conversion in the future, he can contact the loan bank to choose not to convert, or switch back after conversion. Please refer to the actual regulations of the lending bank for details. In addition, if you choose your own pricing method, you can't modify it.
The above is the answer to the significance of unified batch conversion of housing loans, and I hope it will help you.