How long does it take to release the mortgage after the mortgage is repaid?

It is generally canceled one week after the mortgage is paid off in full. Usually after the mortgage repayments are fully settled, the lender needs to go through the mortgage release procedures. It should be noted that you must bring proof of mortgage settlement and other property rights certificates before going to the housing authority to handle the mortgage cancellation procedures.

If the borrower's property is in the process of mortgage repayment, the property can no longer be used for mortgage loans before the loan is repaid, because the property certificate is required by the borrower when applying for a mortgage loan. If the property has been mortgaged to the bank, the property belongs to the bank before the loan is repaid. Without a property certificate, the borrower cannot register the property as a mortgage, and therefore cannot apply for a mortgage loan.

What is the process of releasing the mortgage after the housing loan is paid off?

1. The loan is settled. After the borrower's loan is settled, he or she should bring the loan settlement notice issued by the bank to the management department or branch center to issue a "Notice on Lifting the House Mortgage" in triplicate. One copy will be kept by the center and the other two copies will be handed over to the borrower.

2. Receive the "Other Property Rights Certificate". The borrower takes his or her ID card and the release procedures to the central personal loan department or sub-center to receive the "Other Property Rights Certificate" and the "release notice" issued by the central personal loan department, sub-center and trading center.

3. Handle the deposit. With the above procedures, the borrower goes to the Municipal Property Rights Trading Center to handle the release procedures for the mortgaged property.

How long does it usually take to release a house from mortgage?

For normal house release procedures, you need to prepare all the required information and go to the real estate trading hall where the house is located to go through the mortgage cancellation procedures. After the procedures are completed, there are three Weekday unzip archive time. Then you can go through the ownership transfer registration procedures.

If you release the mortgage on the same day, you can apply for a new mortgage. This can be done on the same day. The mortgage will be completed in your name around the 10th to 20th of this day, but it will not affect the declaration procedures on the same day. The reason why the decompression cannot be completed in one day is because the bank will take a batch of real estate certificates to be decompressed to the transaction center for processing. There may be a waiting time. You can negotiate this with the homeowner and the bank.