Does parents’ debt have an impact on their children’s house loans?

Parents’ debt will not affect their children’s loans. Generally, the credit of relatives will only affect the spouse. Because the marriage relationship between husband and wife is still ongoing at the time of the loan, the spouses have constituted apparent agents at this time, and the bank has reason to believe that one party’s lending behavior is an expression of the consent of the husband and wife.

The People's Bank of China has a credit record for each depositor. If there is a credit card overdue record, etc., there will be some trouble in applying for a mortgage in the future, especially if the spouse has bad credit and the other spouse has It will also have an impact when applying for a loan, but parents' debt will not affect their children's loans.

Parents’ debt generally does not affect their children. Parents are generally persons with full capacity for civil conduct and can independently bear their debts, so children are not responsible for their parents' debts. But if parents are restricted from spending too much, it will affect their children's ability to attend high-fee private schools.

Several Provisions of the Supreme People's Court on Restricting High Consumption and Related Consumption of Persons Subject to Execution" Article 3

If the person subject to execution is a natural person, after consumption restriction measures are taken, he shall not have the following High consumption and consumption behaviors that are not necessary for life and work:

(1) When taking transportation, choose second-class or above cabins in airplanes, trains, and ships;

(2) In High-end consumption in star-rated hotels, hotels, nightclubs, golf courses and other places;

(3) Purchase of real estate or newly built, expanded or high-end decorated houses;

(4) Leasing of high-end Working in office buildings, hotels, apartments and other places;

(5) Purchasing non-essential vehicles for business;

(6) Traveling and vacationing;

(7) Children Studying in high-fee private schools;

(8) Paying high premiums to purchase insurance and financial products; (9) Taking all seats on G-prefixed EMU trains, first-class or above seats on other EMU trains, and other non-lifestyle activities and consumption behaviors necessary for work. If the money owed by the parents to the bank has not been repaid, can the children get a loan to buy a house?

If the parents owe the bank money but have not repaid it, the children can get a loan to buy a house.

1. Under what circumstances you cannot get a loan to buy a house

1. People with bad credit report

Personal credit report is one of the important criteria for banks to consider the borrower’s loan application conditions. First, borrowers with bad credit are easily rejected by banks. The bad credit mentioned here mainly includes overdue loans, overdue loans, guarantees for others, overdue loan repayments, etc. These will cause credit stains on the applicant, and even consulting with several banks will not help.

2. The second-hand house is too old

The bank also has requirements for the age of the house when approving the loan, because the mortgage loan uses the house as collateral, and the second-hand house is too old. Different from first-hand houses, houses of different ages and quality will inevitably have different values. For older houses, generally more than 20 years ago, banks will no longer issue loans.

3. Too old

Usually, banks have restrictions on the age of borrowers, stipulating that they are between 18 and 65 years old. If the borrower is over 50 or 60 years old, , in this age group, the bank is afraid of physical problems, and the risk taken by the bank is relatively large.

4. People whose debt is greater than their income

If their monthly income cannot make ends meet and there is no surplus, the bank will directly reject it.

2. Suggestions for loan purchase of houses

1. Apply for a loan amount within your ability

When applying for a personal housing loan, the borrower should be aware of his or her financial situation. Make correct judgments about your strength and repayment ability, and make correct and objective predictions about your future income and expenses.

2. When applying for a mortgage, you must choose a good loan bank

The more and more detailed the bank's service types, the more flexible and diverse personal financial services you will get, as well as a rich portfolio of services and products.

3. Choose the repayment method that best suits you

There are basically two personal housing loan repayment methods: equal-amount repayment and equal-amount principal repayment.

1. Using the equal repayment method, the repayment amount will remain unchanged (except for interest rate adjustments), which is convenient for repayment, but more interest will be paid;

2 , adopting the equal principal repayment method, the monthly repayment amount is gradually reduced.

When a borrower signs a loan contract with a bank, he or she must first understand the two repayment methods and determine the repayment method that best suits them. If the father owes money to the bank, will his son's future loans be affected?

No impact. \x0d\According to Article 11 of the China Banking Regulatory Commission's "Interim Measures for the Management of Personal Loans": "Personal loan applications should meet the following conditions: (5) The borrower's credit status is good and there is no major bad credit record;" From this According to the regulations, it can be seen that under the premise that the borrower's personal credit status is good and there is no major bad credit record, as long as he meets other conditions stipulated by the bank, he can obtain a loan;\x0d\In addition, this method does not impose bad credit on the borrower's parents. The recorded circumstances make prohibitive loan provisions, which means that the borrower's personal credit status will not be affected because of his parents' bad credit record. \x0d\No matter whether the parents become black accounts in the bank, it will not affect the credit status of the children. As long as they have no bad credit record and meet other bank loan conditions, they can directly get a loan to buy a house. If the father has not repaid the loan, can his son get a mortgage?

The father has not repaid the loan, but the son can get a mortgage. Legally, the son is a person with independent civil capacity, and the default in payment will not affect the son's loan.

According to the "Personal Housing Loan Management Measures":

Article 5 The borrower must meet the following conditions at the same time:

1. Have a permanent urban residence or valid residence permit Identity;

2. Have a stable career and income, good credit, and the ability to repay the principal and interest of the loan;

3. Have a contract or agreement to purchase a house;

4. If there is no housing subsidy, the down payment for the house purchase shall be no less than RMB 30 of the total price of the house purchased; for those with housing subsidy, the down payment for the house purchase shall be RMB 30 for the personal portion;

5. Have assets approved by the lender as mortgage or pledge, or an entity or individual with sufficient repayment capacity as a guarantor;

6. Other conditions stipulated by the lender.

Extended information:

Payment method:

1. One-time payment

It was the most common payment method in the past and was generally used for Properties selling low-priced small units.

Pros: You can generally get a discount of about 5% of the house price from the seller for a one-time payment. If it is an existing house, you can quickly obtain the property rights of the house. If it is an off-plan house, this payment method has the lowest price.

Disadvantages: A large amount of funds need to be raised for a one-time payment, and the interest on this fund is lost, which puts great pressure on home buyers with limited financial capabilities. If it is a one-time payment for an off-plan house, the developer may not deliver the house on time, resulting in a loss of interest or even the entire house payment, and the risk of house purchase is high.

2. Installment payment

It is divided into interest-free installment payment and low-interest installment payment, which are more attractive payment methods.

Benefits: Alleviate the financial pressure of one-time payment, and use the house payment to urge developers to fulfill their commitments in the contract.

Disadvantages: As the payment term is extended, the interest rate will be higher and the house payment will be higher than the one-time payment.

3. Mortgage payment

That is, a home purchase mortgage loan. The home buyer uses the property rights of the house purchased as a mortgage. The bank pays the house payment to the developer in advance, and then the home buyer pays monthly The payment method of paying principal and interest to the bank in installments has become the most effective means to promote the activity of the real estate market because it can quickly transform potential market demand into effective demand.

Pros: You can raise the necessary funds to realize your desire to buy a house, and spend tomorrow’s money to realize today’s dream.

Disadvantages: cumbersome procedures and many restrictions.

4. Provident Fund Loan

In addition to using their savings over the years, residents generally first apply for a personal housing provident fund loan for the insufficient funds to purchase a house, and then apply for a personal housing mortgage from a bank for the remaining insufficient funds. Loan settlement.

At present, the "combination loan" that combines this kind of personal housing provident fund loan with a bank's personal housing mortgage loan is the most common loan method for purchasing a house.

Because it is more realistic and reasonable. After all, the amount of personal housing provident fund that each household can borrow is not very large. If all loans are taken from banks, the interest burden will be too heavy.

Personal housing provident fund loans are policy-based personal housing loans and have a certain nature of policy subsidies. As long as the individual's unit has established a housing provident fund and paid the provident fund on time, he or she has the right to apply for a loan. Its maximum The advantage is low interest rates. Moreover, the larger the loan amount and the longer the term, the more significant the interest rate spread will be.

Baidu Encyclopedia-Personal Housing Loan Management Measures