[#新手教]When will the bank call Loan? | Hong Kong 香港



Some people say that once the unemployed bank will call the loan, some people say that the property will be repossessed by the call loan when the property drops to negative equity? Is it true or false? This episode will dismantle the doubts about the call loan with you! Before you start, figure out what a call loan is! The so-called call loan means to recover the loan. According to the mortgage deed, the bank has the right to call the loan at any time, and there is no certain criterion. And the negative equity alone will not constitute a “fatal injury” to the call loan, at best it only increases the possibility of the call loan. Suddenly called loan, there must be a reason, the following are several common main reasons: 1. Infringement of the mortgage contract According to the regulations, the maximum mortgage rate for a leased property is 50% of the property price. If the owner applies for a high-volume mortgage application when buying a building, and the owner rents out the unit without occupying the property after the completion of the property, once it is discovered by the bank, it will be called loan to recover the price difference of the additional loan. If the landlord leases the unit under a 60% mortgage application, there may be two situations. First, the property price has accumulated a certain increase, and the loan amount has fallen to 50% of the estimated property price. In this case, the owner does not need to make up the difference. However, the owner still has to apply for a lease agreement with the bank. As for if the increase in property prices is not enough to reduce the borrowing amount to 50%, the bank finds out after the lease, the landlord may still be recovered by the bank for the difference. 2. Application for the second mortgage If the owner applies for the second mortgage of the property, the relevant second mortgage property will be submitted to the land registry, and the land registry will issue an electronic reminder to the bank of the “first mortgage” of the property, so the bank will Know that the owner is using the property as a second mortgage. In the face of relevant circumstances, the bank will require the owner to provide the loan documents of the second mortgage, understand the amount and terms of the second mortgage, and then request the owner to add a guarantor depending on the situation. If the bank thinks that the risk is too high, it will also require the owner to make a partial repayment. But overall, after the owners apply for the second mortgage, they will fall into the high-risk list, and the chance of being called loan increases. 3. Bank accounts are cancelled. In recent years, banks have focused on whether the account will involve money laundering. If the bank suspects that there are a large number of cash transactions in the contribution account, it will ask the head of the household about some unusual transaction records. If the reply is not satisfactory to the bank, the bank There will be an opportunity to cancel the account and ask the owner to pay off all mortgage loans. 4. It is rumored that if you fail to repay the loan as scheduled, you will be unemployed during the mortgage payment period and you will be called loan by the bank. In fact, once the borrower is unemployed, the bank may not call the loan immediately, because the bank will take into account the borrower’s contribution record, and when the borrower fails to repay the loan on schedule, it will be included in the supervision of the bank. In the bottom line of the bank, 60 days is a very important risk control time. Once the owner defaults on the mortgage payment for more than 60 days, it will trigger the bank to put the owner on the key watch list. The general bank’s approach is to call a loan once there is no mortgage for 6 months. 5. Falling property prices Generally speaking, banks try not to call a loan when property prices fall but the owners make normal contributions. Because, once the loan is called, the bank will also have bad debts. According to the performance of the Hong Kong property market in the past, even if property prices fall and property owners turn into negative equity, eventually property prices will rise from negative to positive. At the same time, as far as banks are concerned, once the owners have to withdraw their loans, they have to go through a long legal process, and the cost is not low. Therefore, for the bank, the most important thing for the owner is to repay the loan on time. In case the bank calls the loan and the owner fails to repay the loan, the bank can withdraw the unit and auction or put it on sale in the form of a bank master. The selling price of the silver main board is often lower than the market price, so after the property is sold, it is usually not enough to repay the money owed to the bank. At this time, you will lose the property and still owe a debt. Although in most cases, as long as you have a stable income, the bank may not call the loan immediately, but it is recommended that you find a mortgage consultant to clearly calculate your affordability before entering the market! 📌 If you have any questions about the property market or mortgage, please leave a message below or inquire with our online customer service: 👉 HongKongFloorPlans “#美联Confidence Index”: 👉Download the new upgraded version#美联17 search criteria 🔍 newly added #Map搵楼# MTR step search 🚇搵楼 in one step! #Real estate big competition⚖️ to help you choose the best fit! #首创代理带睇楼, Internet celebrity agent self-portraits 📹 Login and enjoy# Personalized information and seamless cross-platform experience! ⚡ ▄▄▄▄▄▄▄⭐️ Featured videos⭐️ ▄▄▄▄▄▄▄▄ 📺【#新手教】Silver master plate enters the market 5 big tips📺【#新手教】Buy “No Deed House”, “Broken Deeds” Notice for the building”📺【#新手教】I should pay attention to the terms of the lease when signing a lease? 📺[#新手教]See all purchase expenses other than the first phase in one go! 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