At present, many banks have issued notices to convert the existing fixed loan interest rate into lpr loan interest rate, but for some loan users, they still hold a wait-and-see attitude towards lpr interest rate, thinking that lpr interest rate is a floating interest rate with the market, which may lead to an increase in mortgage interest in the future. So if the user doesn't want to convert the lpr interest rate, do they need to inform the bank? Let's get to know each other.

Do I need to notify the bank if the mortgage doesn't want to convert lpr?

If the mortgage customer does not want to convert the fixed mortgage interest rate into lpr interest rate, there is no need to go through the loan interest rate conversion procedure. Whether it is necessary to notify the bank for conversion depends on the bank's regulations. In some banks, the loan interest rate will not change after the specified conversion time, but it can no longer be converted into lpr interest rate; However, some banks will still convert to lpr interest rate by default even if users fail to go through the lpr interest rate conversion procedures within the specified time.

Usually, when the bank converts the lpr interest rate by default, the possible lpr interest rate conversion is unexpected by the user, so whether to convert the lpr interest rate suggestion can be known to the bank in advance. Otherwise, it will affect the personal loan interest rate.

The above is about the introduction of mortgage interest rate conversion, hoping to help.