LPR refers to the best lending rate, that is, the best lending rate for RMB loans quoted by representative quotation banks. And "BP" is the abbreviation of basis point, which means one percent of one percentage point in interest rate, that is, 0.0 1%. Therefore, "LPR+ 103BP" means an increase of 1.03 percentage points on the basis of LPR.
Specifically, if the current LPR is 3.85%, the interest rate will be 3.85%+1.03BP = 4.88%. In other words, "LPR+ 103BP" is a way to calculate the loan interest rate, which means that the interest rate is slightly raised on the basis of LPR.
Purpose of mortgage
Mortgage housing loan actually refers to the variety of commercial housing that customers already have that can be listed and circulated with mortgage bank loans. Unlike second-hand housing loans and first-hand housing loans, customers already own real estate, not about to own it.
Mortgage housing loans need to have clear loan purposes and cannot be used for purposes explicitly prohibited by laws and regulations, such as real estate speculation and stock speculation. It is required that mortgage housing loans should be earmarked for special purposes and be supervised by lenders and regulatory agencies. If violations are found, the bank has the right to recover the loan.
The above contents refer to Baidu Encyclopedia-Housing Mortgage Loan.