One-time payment, what does mortgage mean?

One-time payment is to buy a house in full, that is, to pay all expenses (including property management fees, property management fees and related handling fees) in one lump sum, and so on.

Mortgage loan refers to a loan business conducted by mortgage. For example, housing mortgage loan is a personal housing loan business in which buyers use the purchased housing as collateral and the real estate enterprises that purchase the housing provide regular guarantee. The so-called mortgage means that the mortgagor transfers the property rights of the house to mortgage, and the beneficiary acts as the repayment guarantor. After the mortgagor pays off the loan, the property rights involved are immediately transferred to the mortgagor, and the mortgagor enjoys the right to use in this process.

The word "mortgage" was originally a local dialect and was found in Hong Kong, Macao and Taiwan. From the end of 1980s, it gradually appeared in Chinese mainland from south to north. Except for the China Special Administrative Region, there is no provision on mortgage in the law. Before Hong Kong's return to the motherland, the provisions on mortgage in Hong Kong were broadly defined and narrowly defined.

Mortgage in a broad sense refers to any form of pledge (pledge is the mortgage of movable property) and mortgage; Narrow mortgage refers to transferring the property to the lender's name, and then transferring the property back to the borrower's (mortgagor's) name after the loan is paid off. The mortgage stipulated in the Urban Real Estate Management Law and the Guarantee Law is somewhat different from that in Hong Kong, that is, the definition of mortgage in these two laws is based on the condition of not transferring possession.

"Mortgage" has two meanings: real estate mortgage and installment repayment. It refers to a loan method in which a bank issues a purchase of owner-occupied housing to a natural person with full capacity for civil conduct, and repays the loan with the property house purchased by him as a mortgage, and repays the principal and interest of the loan on a monthly basis.

It is divided into individual housing commercial loans (referred to as commercial loans) and individual housing provident fund loans (referred to as provident fund loans). Specifically, the mortgage loan refers to the purchase of the building as collateral to obtain loans from the bank, and the buyers pay the bank in installments according to the repayment method and time limit agreed in the mortgage contract; Banks charge interest at a certain rate. If the lender defaults, the bank has the right to take away the house.

Extended data:

Loan process

(1) application. The customer submits a written loan application to the bank and submits relevant materials. (2) sign a contract. After receiving the loan approval notice from the bank, the loan applicant shall sign a loan contract and a guarantee contract with the loan bank, and handle notarization, mortgage registration, insurance and other related procedures as appropriate.

(3) open an account. Customers who choose entrusted deduction for repayment need to sign an entrusted deduction agreement with the bank, and open a special savings passbook account, savings card or credit card account for repayment at the business outlets designated by the lending bank. At the same time, the seller shall open a settlement account or deposit account with the loan bank.

(4) the issuance of loans. With the consent of the lending bank, the lending bank will directly transfer the loan to the deposit account opened by the borrower in the lending bank, or transfer it to the deposit account opened by the seller in one lump sum or by stages according to the loan contract.

(5) Repayment on schedule. The borrower shall repay the principal and interest of the loan according to the repayment plan and repayment method agreed in the loan contract. There are two repayment methods: entrusted deduction and counter repayment.

(6) Loan settlement includes early settlement and normal settlement. Early settlement refers to the settlement of the loan (one-time repayment of principal and interest) or the last loan (installment loan) before the loan maturity date; Normal settlement refers to the settlement of the loan on the maturity date of the loan (one-time repayment of principal and interest) or the last installment of the loan (installment loan).

If the loan is settled in advance, the borrower shall submit an application for early settlement to the loan bank 10 working days in advance after paying off all the payables. After the loan is settled, the borrower receives the "loan settlement certificate" from the loan bank, retrieves the mortgage registration certificate of real estate ownership and the original insurance policy, and goes through the mortgage registration cancellation formalities with the original mortgage registration department with the "loan settlement certificate" issued by the loan bank.

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