Pay off the loan and go through the mortgage cancellation registration procedures

After you pay the loan bank to settle all the principal, interest and related fees of the loan, you can get the housing mortgage certificate with the settlement certificate issued by the bank. The original real estate registration office handles the cancellation procedures for housing mortgages.

Personal commercial housing loan process

Customer application - bank acceptance - house evaluation - bank investigation, review, approval - signing a loan contract - handling insurance, notarization, mortgage (pre-) registration - Granting a loan - repaying the principal and interest of the loan - liquidating the account and withdrawing the mortgage

Before applying for a loan, please consult the local branch of the bank. The specific regulations shall be subject to the interpretation of the handling bank.

There are new regulations on housing provident fund loans in Shanghai

There are new regulations on housing provident fund loans in this city. In order to promote the reform of the city’s housing system and encourage individuals to purchase self-occupied housing, they must be approved by the Municipal People’s Government. The "Shanghai Housing Provident Fund Individual House Purchase Loan Management Measures" will come into effect on October 1 this year. The "Administrative Measures" stipulate that in the future, provident fund borrowers should meet the following conditions: 1. Have a permanent residence in this city; have paid provident fund continuously for no less than 6 months before applying, and have paid housing provident fund cumulatively for no less than two years. ; The house purchased conforms to the architectural design standards stipulated by the Municipal Provident Fund Center, and should be a property with ownership on state-owned land and used for personal residence by the family; the amount of the down payment for the purchase of the house shall not be less than the prescribed proportion; and have a relatively stable economic income and the ability to repay the loan; there are no outstanding debts with a large amount that may affect the ability to repay the loan. Regarding the loan period, the "Administrative Measures" stipulates that the maximum term of each provident fund loan shall not exceed 20 years, and shall not be longer than 5 years after the borrower's statutory retirement time; for the same loan, the maximum loan period shall not exceed 20 years, which is no longer than 5 years after the youngest borrower’s statutory retirement date. The loan standards are stipulated in the "Administrative Measures": the loan limit shall not be higher than the loan limit determined by the balance of the borrower's housing provident fund account; the loan limit shall not be higher than the loan limit determined by the proportion of the total price of the house; and shall not be higher than the loan limit determined by the repayment ratio. The loan limit determined by ability is calculated as follows: the borrower’s salary base for calculating the monthly housing provident fund deposit × prescribed proportion × 12 months × loan term; it shall not be higher than the maximum loan limit. The specific amount of each provident fund loan is calculated according to the borrower's application amount and limit standards. If the application amount does not exceed all limits, the application amount will be used as the loan amount; if the application amount exceeds any one of the limits, the lowest limit will be used as the loan amount. . Regarding loan procedures, the "Administrative Measures" stipulate that the borrower should submit a loan application to the Municipal Provident Fund Center, fill in the loan application form, and provide the following supporting materials: personal ID card and permanent residence certificate in this city; house sales contract. The Municipal Provident Fund Center shall accept applications with complete materials, and within 15 days, make a decision on whether to lend or not in accordance with the acceptance time sequence, and notify the applicant in writing. Within the validity period specified in the loan approval decision, the borrower can choose any provident fund loan trustee bank to handle loan procedures, but the lender must provide a loan approval decision. If the principal and interest of the loan need to be repaid in advance, the "Administrative Measures" stipulate that with the consent of the lender, the borrower can repay part or all of the principal and interest of the loan in advance. If the loan is repaid in full in advance, the trustee bank will no longer charge loan interest, and the loan interest already collected according to the loan contract will not be refunded. If part of the loan is repaid in advance, the loan contract shall be changed in writing, and the loan period after the change shall not be longer than the loan period stipulated in the original loan contract. If the trustee bank fails to issue the loan in accordance with the time and amount specified in the loan contract, causing losses to the borrower, it shall compensate for the losses. If the borrower fails to repay the loan within the time limit stipulated in the contract, he shall pay overdue interest as stipulated in the contract.

The content of this article comes from: China Law Publishing House's "Complete Knowledge of Legal Life Common Sense Series"