If the mortgage is not converted into LPR interest rate, you still need to go to the bank, otherwise it will be automatically converted into LPR interest rate after the specified time. Taking China Construction Bank as an example, according to the Announcement on Batch Conversion of Individual Housing Loan Pricing Benchmark with Floating Interest Rate, in order to further promote the conversion of individual housing loan pricing benchmark with floating interest rate, China Construction Bank will convert individual housing loan with floating interest rate into LPR pricing on August 25th, 2020.
If you want to maintain the pricing method of the original contract, you can transfer it back through mobile banking from September 1 day to February 3 1 day, 2020, or you can go to any smart counter of China Construction Bank.
Machine (STM), the loan agency. If the original contract has multiple borrowers, it can be handled by one person.
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Convert the interest rate pricing method of the original contract into LPR bonus, and the rules are as follows:
(1) Equivalent conversion at the conversion time. The value added (which can be negative) is the difference between the latest interest rate level of the original contract and the LPR of the same period published in February 20 19.
(2) The added value shall remain unchanged during the remaining term of the contract.
(3) The period and date of interest rate adjustment remain unchanged from the original contract; The interest rate level remains unchanged from the conversion point to the first interest rate adjustment date (excluding); On each interest rate adjustment date, the loan interest rate level is calculated and determined by the corresponding term LPR of the day before the interest rate adjustment date and the added value determined at the time of conversion.
The original mortgage is a fixed interest rate, but now I don't want to transfer it. Do I still need to go to the bank?
Mortgage is a fixed interest rate, so you don't need to go to the bank for interest rate conversion. The fixed interest rate is not within the scope of bank interest rate conversion. Taking ICBC as an example, according to the Notice on Converting the Pricing Benchmark of Personal Loans with Floating Interest Rate to LPR, the following loans cannot be converted:
(1) Loans with the remaining loan term less than one repricing cycle, that is, loans with the loan maturity date agreed in the original contract earlier than the next repricing date.
(2) Revolving loans with full cycle term and remaining loan term less than one repricing cycle.
(3) Fixed interest rate loans.
(four) after consultation with the provident fund center, the individual housing provident fund will be converted into a commercial discount loan.
Extended data:
If the bank and the customer agree to implement the conversion of pricing benchmark, the interest rate pricing method agreed in the original contract will be converted into a fixed interest rate based on the corresponding term LPR (the increase point can be negative).
The term variety of LPR is determined according to the original contract loan term. If the term of the original contract loan is less than 5 years (inclusive), refer to the 1 year LPR； published by the National Interbank Funding Center; If the term of the original contract loan exceeds 5 years, refer to the LPR published by the National Interbank Funding Center with a term of more than 5 years. Pricing benchmark can only be converted once, and cannot be converted again after conversion.
Do I need to go to the bank to handle the housing loan that China Construction Bank doesn't want to change the interest rate of LPR activities?
If you don't need to change, you don't need to go. Because every lender has the opportunity to modify it. The bank sent us a message. If we don't change, they will automatically change.
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China Construction Bank was established in June 1954+ 10/0/. The head office is located at No.25, Financial Street, Beijing. It is a large state-owned bank managed by the central government and a national deputy ministerial unit. The main business areas of China Construction Bank include corporate banking, personal banking and treasury business, with branches and subsidiaries in 29 countries and regions, and subsidiaries in many industries such as funds, leasing, trust, life insurance, property insurance, investment banking, futures and pension.
China Construction Bank has a broad customer base, maintains banking contacts with many large enterprise groups and leading enterprises in China's economic and strategic industries, and its marketing network covers major regions of the country.
20 16 On June 30th, the British Banker magazine published the ranking of 1000 big banks in the world, and China Construction Bank ranked second. 20 17 In February, BrandFinance released the list of top 500 global brands on 20 17, and China Construction Bank ranked it as 14. In 20 18, Fortune Global 500 ranked 3 1.
Do I still need to apply to the bank after the mortgage interest rate is lowered?
There is no need to go to the bank to lower the mortgage interest rate, and the bank will automatically convert it.
The downward adjustment of mortgage interest rate can save the purchase cost and reduce interest expenses for buyers. If the mortgage interest rate is lowered, the new interest will be automatically calculated according to the mortgage contract.
The current mortgage interest rate is LPR+ basis point. If floating interest rate is selected, when LPR falls, mortgage interest will decrease. In the second year, the bank will automatically calculate the interest according to the new interest rate, and users do not need to go to the bank for additional procedures.
Of course, if you convert it into LPR+ basis points, but choose a fixed interest rate, then the mortgage interest is fixed.