Yangcheng Evening News reported that a few days ago, "repaying mortgage in advance" became a hot topic on many social platforms. After 90, Guangzhou citizen Xiao Wu bought the first suite last year. Recently, he found that he also began to learn about early repayment from the bank, but was told that the contract at that time stated that early repayment required payment of liquidated damages. "Is there a condition for repaying the mortgage in advance?" Xiao Wu expressed doubts about whether the mortgage should be repaid in advance, and how can it be cost-effective to repay the mortgage?
Why do young people "repay their loans in advance"?
Entering "early repayment" on various social platforms will always lead to a series of stories. In the early years, both the media and social platforms were still using the story of "borrowing money to buy a house". Why did the young man start to want to repay the mortgage in advance? The all-media reporter of Yangcheng Evening News contacted several young people who wanted to repay the loan in advance, and they each expressed their own voices.
"The house in my parents' hometown was demolished, and they gave me the demolition money, indicating that the requirements can only be used to repay the mortgage. "Xiao Wu, a post-90 s boy, bought a house in Tianhe District of Guangzhou with a loan of about 3 million yuan last year. According to the estimation of his loan for 30 years, he needs to repay about 6.5438+0.6 million yuan a month, and his life is relatively tight. It is precisely for this reason that, under the measurement of family members, the demolition fund of about 6.5438+0 million yuan in my hometown is intended to be repaid by Xiao Wu in advance.
"I estimated by myself that the prepayment is about 6,543.8+0,000 yuan, and the monthly repayment is about 654.38+0.110,000 yuan." Xiao Wu said that the extra 5,000 yuan will make his life easier, and the part of the monthly balance will be used for financial management.
Asked why he didn't use the integer 1 10,000 to manage money, Xiao Wu admitted that he had this plan from the beginning, but at first his family worried that the income from this move was uncontrollable; Secondly, I feel that there are no more investment channels, so I am more willing to spend money on the "cutting edge".
The all-media reporter of Yangcheng Evening News also noticed that many young people on the online platform have similar ideas to Xiao Wu. Lan Zhi, a post-80s girl, had a similar idea recently. "A few years ago, I got back the principal of investing and doing business with my friends, thinking about simply paying back the mortgage." Lan Zhi said that she didn't think her friends' income from funds and stocks was ideal, but it was very cost-effective for her to repay the mortgage in advance and save the monthly payment to improve her family's life.
"According to the calculation, the repayment interest for 30 years is basically equal to or even exceeds the principal. Therefore, when you have enough cash flow and repayment ability at present, you will generally choose to settle the loan in advance or at least partially return the loan to reduce interest expenses, which can really save the overall funds. " Cao Lei, a researcher at a bank research institute, said that young people want to repay their mortgages in advance for various reasons: for example, some have no better channels for investment and value preservation and appreciation, and choose to use existing funds to pay off debts to reduce the overall asset-liability ratio; In addition, some young people may want to acquire the property rights of real estate through advance payment. Holding a real estate license can flexibly dispose of the property according to the fluctuation of the property and your future career plan.
Is it worth repaying the loan in advance?
"But no matter what your original intention is, you still need to know whether you meet the conditions for prepayment and whether it is suitable for prepayment." Some insiders reminded.
When Xiao Wu asked whether the bank could repay in advance, he was reminded that he needed to look at the contract treaty, that is, he could not repay in advance within one year. Xiao Wu told the all-media reporter of Yangcheng Evening News that the banking treaty he saw did say, "If the prepayment is less than one year, 5% of the prepayment amount will be charged as liquidated damages. If the loan is repaid in advance after one year, no penalty will be charged. "
"According to the time, I can repay in advance in July this year, but my current thinking is that I don't know if it is cost-effective to repay in advance." Xiao Wu has new doubts after knowing that there is a threshold for early repayment.
Is it worth repaying the mortgage in advance?
"Early repayment is not necessarily cost-effective, it depends on the specific situation." Tang, a mortgage analyst at Rongtong Zhonglande, analyzed that borrowers who have just started to repay loans for one or two years may consider repaying loans in advance if the loan interest rate is relatively high, especially if the interest rate has reached 5.6% to 5.8% in the previous two years, and at the same time, idle funds on hand can not generate income higher than the bank interest rate.
However, Tang reminded that for customers whose repayment period has exceeded one third, or whose loan interest rate is low, it is of little significance to repay the loan in advance, especially for customers whose interest rate is advanced or whose provident fund loan is 30% off. "I would like to remind you that borrowers should also pay attention to the penalty interest of prepayment when applying for prepayment, which is also one of the costs." Tang said that in the case of Xiao Wu, he would consider repaying one year in advance to avoid penalty interest.
Replace mortgage with commercial loan?
Many insiders reminded: violation!
It is worth noting that in the interview, some interviewees said that they had received an intermediary call, and the other party said that they could use commercial loans instead of mortgages to achieve the purpose of repaying loans in advance.
"If there is an intermediary, that is to say, changing the mortgage into an operating loan, the interest rate will be much more cost-effective, but I don't quite understand the specific operation." Lan Zhi said that an intermediary contacted her to provide similar services, but she refused.
A number of banks and mortgage agents reminded that it is essentially illegal to exchange commercial loans for mortgages. "The original intention of operating loans is to support the real economy, and the issuance is to support enterprises to engage in business production." Tang said that the bank will also conduct a series of examination and approval and investigation, in the process of examination and approval, whether the customers are really operating. Once violations are found, they will handle the loan collection. At the same time, it is possible to include the illegal information of enterprises and individuals illegally misappropriating commercial loans into credit information, resulting in a "stain" on personal credit and affecting the handling of credit business in the future.
Cao Lei, a bank analyst, said that medium and long-term mortgage is a loan with low interest rate and long term, which helps to smooth the problem of matching liabilities and assets in the whole life cycle of individuals. Some intermediaries advocate replacing mortgage with commercial loans, which in essence does not help customers increase cash flow and reduce asset-liability ratio.
"Especially in the process of future economic downturn, some young people are prone to the situation that commercial loans cannot be repaid on time due to uncertain income, which leads to overdue problems and affects personal credit information." Cao Lei said that in the case of repaying the loan in advance, it is suggested to consider it in combination with its own situation and with sufficient funds. However, if the conditions are not met and the future income is uncertain, it is suggested to repay the loan in advance cautiously, especially to be wary of the operation of replacing the mortgage loan with the intermediary business loan.