Each user has one and only one chance to choose LPR interest rate conversion. If the fixed interest rate is selected when the LPR interest rate conversion is processed for the first time, the interest rate cannot be changed. Unless the user's previous mortgage interest rate is fixed and converted into LPR floating interest rate by the bank in batches, there will be an opportunity to change the interest rate at this time.
For most users, it is better to choose LPR floating rate mortgage loan, because LPR has a downward trend in the long run.
Can I change the fixed interest rate? Can the loan interest rate be changed after conversion?
When applying for a mortgage, the bank will generally ask the borrower what kind of mortgage interest rate calculation method to choose. One is the floating interest rate converted according to the LPR interest rate, and the other is the LPR fixed interest rate. Many buyers are confused. Can you change the fixed interest rate? Can the loan interest rate be changed after conversion?
Can I change the fixed interest rate?
According to national regulations, the floating interest rate and fixed interest rate of lpr can only be converted once, and cannot be changed after conversion. If there is interest rate discount, choose the fixed method of lpr, and consider the floating method of lpr when the original interest rate rises. After lpr selects floating interest rate and fixed interest rate, it cannot be changed.
Therefore, every property buyer needs to think carefully before choosing. For most users, it is better to choose LPR floating rate mortgage loan, because LPR has a downward trend in the long run. Generally speaking, if there is interest rate discount, the lpr fixed method will be chosen, and the original interest rate floating method can be considered.
Can the loan interest rate be changed after conversion?
There is a saying in every bank's mortgage interest rate pricing benchmark announcement that everyone has only one chance to change, but there is no second choice. The central bank only gave LPR or fixed interest rate two choices, but did not retain the original pricing method.
If banks transfer LPR in batches, this situation can be changed back. After all, this is not everyone's choice, but is operated by the bank. According to the regulations of the five major banks, if there is any objection after batch conversion to LPR, you can negotiate with the bank to cancel the change within the specified time, and apply for changing the pricing benchmark method of the original contract, that is, floating up and down according to the benchmark interest rate of the central bank.
The above is "Can I change even if I choose a fixed interest rate?" I hope I can help you by sharing related content!
Can the fixed interest rate of mortgage be changed?
If you choose a fixed interest rate, the mortgage can be changed.
As of August 2020, the fixed interest rate of mortgage can be changed to floating interest rate. The conversion time of mortgage interest rate of most banks is August 3, 20201. In the official language, the conversion of interest rate pricing method for existing floating rate loans should be completed before August 3 1, and the pricing benchmark can only be converted once.
The pricing of mortgage loan refers to LPR, and the interest rate is formed by increasing the basis point (1 basis point equals to 0.0 1%) on the basis of the corresponding term LPR. Assuming that the LPR over five years is 4.8%, if the contract stipulates an increase of 30 basis points, the actual loan interest rate is 5. 1%. This is different from multiplying the benchmark interest rate by a certain discount or floating a certain percentage.
If the fixed interest rate is selected, the actual execution interest rate of the loan will remain fixed during the loan period and will not change due to the adjustment of LPR.