What procedures do I need to go through after the housing loan expires?
1. When the mortgage repayment is due, you need to go to the bank to handle the settlement certificate and issue the real estate license. General banks will pay a return visit before remitting the house purchase loan to the account designated by the applicant, mainly to confirm whether the account information is accurate and whether the house purchase loan plan has changed. The general staff will not release the loan to the designated account until they receive a positive reply from the applicant.
2. The loan bank will issue the loan settlement certificate within 1-3 working days. The borrower can go to the local real estate bureau with the loan settlement certificate, the certificate of other rights mortgaged in the bank, my ID card and other related materials, and go through the mortgage cancellation procedures under the guidance of the staff. After the mortgage cancellation formalities are completed, the purchased house will be completely owned by you.
The bank will inform you when the mortgage comes down. Before the house purchase loan is remitted to the account designated by the applicant, the general bank will call back, mainly to confirm whether the account information is accurate and whether the house purchase loan plan has changed. The general staff will only release the loan to the designated account after receiving a positive reply from the applicant. At this time, if the applicant does not want to apply for a loan when he receives the call back, he can also explain the specific situation directly to the staff.
legal ground
People's Republic of China (PRC) Civil Code
Article 675
The borrower shall repay the loan within the agreed time limit. If the term of the loan is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 510 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time.
Article 676 If the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or the relevant provisions of the state.
Article 677 Where the borrower repays the loan in advance, unless otherwise agreed by the parties, the interest shall be calculated according to the actual loan period.
Article 678 The borrower may apply to the lender for extension before the repayment period expires. If the lender agrees, it can be extended.