Whether it is necessary to pay off the previous loan before renewing the loan depends on the requirements of the lending institution. If the lending institution requires the user to pay off the previous loan before renewing the loan, then the previous loan needs to be paid off before the loan. Renewing a loan means re-applying for a new loan business, and the loan contract needs to be re-signed. Regarding whether it is necessary to repay the loan before lending, the following is a detailed answer from Bian Xiao. 1. Do I need to pay off my previous loan before I can renew it? 1. Whether it is necessary to pay off the previous loan depends on the requirements of the lending institution. If the lending institution requires the user to pay off the previous loan, you can renew the loan. You need to pay off the previous loan before you can apply for a loan. If the lending institution does not require it, it can apply for a loan without paying off the previous loan. Please consult the staff of the lending institution for details. It should be noted that bank loan renewal generally requires users to pay off their debts before they can apply again, otherwise the bank will refuse the loan. 2. Renewing the loan is a new loan business, and the loan contract needs to be re-signed. Therefore, there is no conflict between the previous loan contract and the loan extension without explicit requirements from the lending institution. Of course, some lending institutions consider that multiple loan contracts will lead to the borrower's high debt ratio, which is not conducive to the recovery of loan funds, and will require users to pay off their previous loans before renewing loans. 3. No matter whether it is necessary to pay off the previous arrears when applying for loan renewal, the application for loan renewal must be reviewed by the lending institution. If the approval fails, the loan cannot be renewed. 2. Apply for the required documents When applying for a loan, the applicant shall present various documents, mainly including: 1. Identity documents (resident identity card, residence booklet or other valid residence documents); 2. Proof of loan economic income or solvency issued by the lender's examination and approval department; 3. Letter of intent, agreement or other approval documents of the house purchase contract that meet the requirements; 4. List of mortgaged property or pledged property, certificate of ownership, certificate of consent to mortgage, pledge and mortgage valuation certificate of the dispossessor; 5. The guarantor agrees to provide written guarantee documents and credit certificate of the guarantor; 6. If savings deposits are used as self-raised funds, bank deposit certificates are required; 7. If the provident fund is self-raised, it is necessary to provide proof that the housing provident fund management department has approved the use of provident fund deposits. The above is the related content compiled by Bian Xiao. Whether it is necessary to pay off the previous loan before renewing the loan depends on the requirements of the lending institution. If the lending institution requires the user to pay off the previous loan before renewing the loan, then the previous loan needs to be paid off before the loan. Renewing a loan means re-applying for a new loan business, and the loan contract needs to be re-signed. If you have other needs, please do one-on-one legal consultation online.
Legal objectivity:
Article 6868 of the Civil Code establishes mortgage, and the parties shall conclude a mortgage contract in writing. A mortgage contract generally includes the following clauses: (1) the type and amount of secured creditor's rights; (2) The time limit for the debtor to perform the debt; (3) The name and quantity of the mortgaged property; (4) the scope of the guarantee.