Home loan turns mortgage, it is to point to the borrower that already dealt with housing mortgage loan in a bank normally, the mortgage that deals with in a bank directly turns to b bank, so as to enjoy more preferential interest rate. So mortgage mortgage to take what process? What should I pay attention to?
The general process of remortgage is as follows:
- This year, Bank A will generally lower the preferential interest rate of 10%-15% for the mortgage customers who buy the house for the first time.
- Bank B will introduce a preferential interest rate of 30% lower for the mortgage business. Normal customers can apply to the bank.
- Bank B shall verify the real estate and borrower’s credit.
- After the examination and approval, Bank B will contribute to settle the loan of the user in Bank A.
- The user handles the mortgage business in Bank B and enjoys the latest preferential interest rate.
For the seller to the house, deal with turn mortgage basically need to offer “turn press” original of application form, effective id and photocopy, “loan mortgage contract” original form and “advance to an early date repayment application form”. The buyer will need to have a contract of assignment, agreement or letter of intent with the original borrower, in addition to all the information on an ordinary mortgage.
Loan to mortgage management tips:
- Find a new bank, a recipient bank that can offer a higher interest rate for mortgages.
- Bring all the application materials, including the original loan contract, house purchase contract, copy of house ownership certificate (no copy is acceptable), original ID card, income certificate, repayment record (usually a copy of the passbook for the bank to deduct the monthly payment), to the receiving bank outlet to fill in the “remortgage” application form.
3, credit inquiry, after the application, to “remortgage” must authorize the receiving bank to conduct “personal credit file” inquiry.
- The record should be good. If there is no malicious loan default record in the applicant’s personal credit record, the receiving bank will generally make the decision to accept the “remortgage” within 7 working days and notify the applicant by phone at the same time; The receiving bank may refuse to accept a remortgage if an individual’s credit history shows delinquent loans or maxed out credit cards.
- After the payment is completed in advance and approved by the receiving bank, the applicant shall apply to the original loan issuing bank for full repayment in advance. The process takes about half a month, as many banks require an application a week in advance.
- Sign a new contract. After paying the loan in full to the original bank in advance and getting back the mortgage property certificate, sign a new personal housing mortgage loan contract at the receiving bank outlet.
7, re-mortgage, holding the property certificate, full repayment proof (issued by the original loan bank), signed with the receiving bank personal housing mortgage loan contract, to the location of the housing mortgage registration department (generally in the real estate exchange), first do understand the procedures, after the new mortgage procedures.
- Hand over the formalities to the bank, and hand over the property ownership certificate, demerit procedures and mortgage procedures to the receiving bank.