However, if there are many outstanding loans and the personal debt ratio is high, in order to avoid affecting the approval of future mortgages, customers are advised to pay off or repay part of the loans before applying for mortgages to reduce the personal debt ratio.
There are three main risks in personal housing mortgage loan:
Borrower's risk: individuals borrow money from banks (including housing provident fund management institutions) for housing consumption. If they don't pay back the money on time, there are two reasons for the risk: subjective reasons and objective reasons. The former refers to the borrower's intentional breach of contract, fraud, false borrowing and malicious failure to pay back the money; The latter is that the borrower cannot repay the money on time due to unemployment, disability, death, divorce and other reasons.
Risk of development project: the developer mismanages or misappropriates funds, which leads to the failure to complete the project, forming a "unfinished tail", and the property purchased by the borrower as collateral becomes a "castle in the air"; The property purchased by the borrower has major quality problems. All these situations will make it difficult to perform personal loan-related contracts, and the rights and interests of borrowers and loan banks will be infringed.
Banks also have risks: lax examination of borrowers; Insufficient control of the developer's sales situation, project progress, the flow of funds in the house payment supervision account and the deposit account; Lack of necessary contact with housing management and land departments, mortgage registration is not implemented; The lax file management and the loss of important contract documents lead to the risk of bank loans.
In the early days of China's personal housing mortgage loan, due to the shortage of housing and imperfect laws at that time, the borrower was unable to move out after worrying about personal risks and filed a compulsory execution with the court, but the court often refused to accept such lawsuits considering social stability. With housing as collateral, it is difficult to guard against risks objectively. Secondly, because our real estate administration can't meet the needs of market development, the speed of housing property right certificate processing is slow, without property right certificate, mortgage registration can't be done, and mortgage can't be done either.
Preventing risks requires buyers to improve their legal concepts.
The most fundamental way to prevent the risk of personal housing mortgage loan is to gradually establish and improve the legal system, improve personal legal concept, and deal with those who maliciously fail to repay the loan. The government should strengthen the planning and management of land supply to ensure the stability of housing supply and housing prices; Strictly review the qualifications of development enterprises to ensure that the housing quality meets the standards; It is necessary to establish a perfect loan procedure; Improve loan efficiency through quality service, rather than simply simplifying loan procedures. Implement the whole process management of individual housing loans, especially post-loan management, and establish a perfect loan guarantee system. Establish housing mortgage, pledge, insurance and guarantee mechanisms, and use market mechanisms to disperse and transfer loan risks.