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Get a mortgage loan for a substantial life.
1．Who is it for?
Natural Person with full capacity for civil conduct; the age of the applicant plus length of maturity should not exceed 70 years.
2. Percentage, Term and Interest
The longest length of maturity for a second-hand house loan is 30 years at 80 per cent. The interest rate will be as per relevant regulations set by People’s Bank of China.
3. What needs to be done?
(1) Submit application documents for credit line assessment;
(2) Bank verifies the application and approves;
(3) Transfer the property with Letter of Pledge for the bank approval of the loan application;
(4) Sign an agreement with the borrower for a second –hand house mortgage loan;
(5) Get the house insured and register as collateral;
(6) Get the loan;
(7) Repay the principle and interests as agreed;
(8) Once borrower has repaid the entire loan, the contract expires and loan registration cancelled
4. Documents to be provided by applicant for loan application:
(1) Individual Mortgage Loan Application form;
(2) Identifications for the Applicant and co-owner, Residence registration (Hukou) in its original or copy form.
(3) Purchase Agreement;
(4) Testimonial for the first payment of the house purchased, as per the agreed percent;
(5) Property Ownership Certificate of the house purchases;
(6) Property Evaluation Report
(7) Testimonial of family income and assets;
(8) Other documents required.
B. Mortgage Loan for the second-hand commercial houses:
A mortgage loan for a second-hand commercial house refers to the loan lent to someone who buys a marketable, commercial house with legally obtained property ownership certificate; He makes the initial payment, let the bank to pay the rest in installments, use the house as collateral and pay the principle and interest on time.
1．Who is it for?
Natural Person with full capacity for civil conduct; the age of the applicant plus length of maturity should not exceed 70 years.
2. Percentage, Term and Interest
The longest length of maturity for a second-hand, commercial house loan is 10 years at 60 per cent. The interest rate will be as per relevant regulations set by People’s Bank of China.
3. What needs to be done?
(1) Submit application documents for credit line assessment;
(2) Bank verifies the application and approves;
(3) Transfer the property with Letter of Pledge for the bank approval of the loan application;
(4) Sign an agreement with the borrower for a second –hand house mortgage loan;
(5) Get the house insured and register as collateral;
(6) Get the loan;
(7) Repay the principle and interests as agreed;
(8) Once borrower has repaid the entire loan, the contract expires and loan registration cancelled
4. Documents to be provided by applicant for loan application:
(1) Individual Mortgage Loan Application form;
(2) Identifications for the Applicant and co-owner, Residence registrations;
(3) Purchase Agreement;
(4) Testimonial for the first payment of the house purchased;
(5) Property Ownership Certificate of the house purchases;
(6) Property Evaluation Report
(7) Testimonial of family income and assets;
(8) Other documents required.
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