Five kinds of people are not suitable for prepayment.
1, buyers who enjoy the benchmark interest rate of 30% -8.5% discount, because of the preferential interest rate, even if the difference in monthly supply before and after the interest rate adjustment will not exceed 100 yuan, so there is no need to repay the loan in advance;
2. average capital's repayment period has passed one third. Due to the large repayment in the early stage, there is still a small amount of loans left. Even if the interest rate is raised, the interest is not too much;
3. The repayment of equal principal and interest has reached the middle stage, because most of the interest has been paid off at this time;
4. If the buyers who need loans recently return the money to the bank at once, the benchmark interest rate may rise 10% to 30% or even higher when they apply for loans from the bank;
5. Customers who have other investment opportunities can get higher income than the mortgage interest rate, so there is no need to rush to repay, because the general commercial loan interest rate of banks is much higher than the mortgage interest rate.
If you want to repay the loan in advance, please pay attention to the following points:
1. Allow major banks to repay loans in advance in different periods.
Banks don't want borrowers to repay in advance, which means that the interest income of banks will be reduced.
Most commercial banks require at least one year before they can apply for prepayment, but some banks say they can apply for prepayment at any time. China Bank and China Construction Bank generally need to repay for one year before they can apply for prepayment, while ICBC needs half a year to repay in advance. In addition, it takes one year for banks such as China Merchants Bank and Bank of Communications to apply for prepayment, while Huaxia Bank said it can apply for repayment at any time.
2. The interest adjustment cycle is different.
The general mortgage term is more than 10 years. During this period, it is inevitable for the central bank to adjust interest rates, and the time for banks to adjust interest rates is different. Banks in China, such as China Industrial and Commercial Bank, China Agricultural Bank and China Construction Bank, etc. Generally, from June 65438+1 October1every year, the new repayment interest will be adjusted according to the latest central bank benchmark interest rate.
Foreign banks generally choose to adjust in the current month or quarter. Citibank will implement the new interest rate at the beginning of the next quarter and HSBC will implement the new interest rate on the same day.
Which interest rate adjustment method is more cost-effective for mortgage borrowers? Experts said that if you are in the interest rate cut channel, it is obvious that the faster you adjust, the more cost-effective; If it is in the interest rate hike cycle, the later the adjustment, the more cost-effective.
3. Pay liquidated damages
When citizens choose to repay in advance, they usually pay a handling fee, also known as "penalty interest" or "liquidated damages", which is generally stated in the contract. State-owned big banks, such as industry, agriculture, China, construction and Bank of Communications, do not charge fees for early repayment by Bank of Communications, while ICBC needs to charge 2-3 months' interest as fees, and other banks need to charge 1 month's interest. Among them, the Agricultural Bank of China charges one month's interest for the early repayment of loans within three years, and no fees will be charged after three years.
It is very important to cancel the mortgage registration after the loan is paid off.
As long as the repayment is completed, the owner will go to the bank to cancel the mortgage registration in time.
There are several situations here:
First, the real estate license has been mortgaged in the bank, and the buyer will receive the repayment certificate after the loan is paid off. The bank will return the real estate license and the original purchase contract to the buyers. At this point, the property right of the house is completely owned by the owner and has nothing to do with the bank.
In reality, many banks only need to register their mortgages once, and buyers can hold their own real estate licenses with mortgage registration marks. In this case, after the buyer pays off the loan, in addition to repeating the above steps, he needs to go to the housing management department to cancel the mortgage registration. At this point, the property right of the house is completely owned by the owner.
(The above answers were published on 2016-12-21. Please refer to the actual situation for the current purchase policy. )
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