If the repayment date of the borrower does not fall on the business day of the bank, the borrower shall repay the loan no later than the last repayment date before the current repayment date.
If the borrower transfers money from another bank account to the account of the loan bank for repayment, the borrower should also consider the transfer time and go through the transfer procedures in advance to avoid personal credit failure due to the failure to receive the account within the last time of the current repayment date.
What is the impact of delaying mortgage?
1. Bad personal credit record
Once the mortgage is overdue, whether it is a commercial loan or a provident fund loan, the loan bank can see your overdue repayment record. If it is a strict bank, even if you are only one day overdue, the bank will enter the overdue information into the central bank's credit information system. Once the overdue records enter the credit information system, it will have a serious impact on everyone's future application for credit cards or loans. Even if the loan can be obtained, the loan amount will be greatly reduced.
2. There will be penalty interest and late payment fee.
If the mortgage is overdue, the bank will call or SMS to remind the borrower to repay. There will be a penalty interest for overdue repayment. The penalty interest of different loan banks is different, which is basically 30%-50% higher than the original loan interest rate. Generally speaking, the bank will give you seven days to make up the arrears. If all the repayable funds can be made up within seven days, there will be no late payment fee. But after 7 days, the bank will charge a penalty interest and a late fee together.
3. The risk of seizure of mortgaged property
General banks will set a default clause in the mortgage contract, requiring the borrower to repay all the loan principal and interest in one lump sum if it is overdue for three consecutive times or six times in total.
If the buyer's mortgage has not been repaid for more than 3 months, the bank will bring a lawsuit to the court according to the loan contract and guarantee contract. The court will take measures such as property preservation, freeze deposits in all bank accounts of lenders and guarantors, and seal up pledged property.