If it is a joint loan, the principal lender or the joint lender will perform benchmark conversion according to the above procedures. After confirmation, the system will notify others to confirm, and other lenders can log in to the bank through their own identities for re-verification.
LPR is jointly formulated by 18 banks, except for a maximum value and a minimum value, and then supplemented on the 20th of each month. If the market is short of funds, interest rates will rise, and vice versa. According to national regulations, before the end of August 2020, all loans should be issued at fixed interest rate and LPR floating interest rate.
No one knows how much LPR will change in the future, and then compare your loan interest rate, you can know that this is a good deal. You can only wait for ten or twenty years, then pay back the loan, then measure it by the current interest rate and exchange rate changes, and then make a comparison to see which is better. So, at this time, you have to make a decision, and no one knows who is better.
We should look at it from another angle. This is a national LPR conversion policy. Throughout human history, no matter at home or abroad, for thousands of years, the policies of any country will benefit some people and make some people lose some benefits. Although the country's tax relief policy is very good, the interests of some people are also damaged. With the change of mortgage interest rate, the national regulations require all borrowers to convert into LPR, so some people will definitely want to profit from it after the conversion, but similarly, some people will lose money after the conversion.
Banks are the lifeblood of the country and can't lose anything. If the interest rate conversion of LPR will cause banks to lose most of their profits, then this policy cannot be implemented. Of course, major banks will keep interest rate income at roughly the same level. So the end result is that all lenders will choose low interest rates, while some will choose high interest rates.
The above is the main content of mobile phone operation of China Construction Bank's mortgage interest rate conversion. I believe everyone knows about these contents. I hope this article can give you some help.