Housing Mortgage Transfer Loan For Same Borrower-----Choose whatever you like

Housing Mortgage Transfer Loan For Same Borrower refers to the loan in which the personal house mortgage loan borrower who had applied in the said bank the personal house mortgage loan, again apply for another mortgage on the same house after the borrower paid off the former loan and the mortgage registration cancelled.

1．Who is it for?

Housing mortgage loan applicants

2. Credit line, time limit and interest rates:

Max. Credit Authorized not exceeding 80% of Collateral Value Max. No. of years shall not exceed 30 years, Sum of the maturity date and the age of the house shall exceed 35 years. Sum of the loan term and age of the borrower shall not exceed 70 years.

The interest rate should be as per load rate set by People’s Bank of China for the same period and same category.

3. What needs to be done?

(1) Submit application documents for credit line assessment;

(2) Bank verifies the application and approves it;

(3) Signs an agreement with the borrower about the personal housing mortgage

(4) Purchase the house

(5)Get the house register as collateral;

(6) Get the house insured and register as collateral;

(7) 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) Borrower’s valid ID card

(2) Income statement

(3) Former bank’s borrowing and mortgage contract, the repayment record, the former bank’s loan cleared off certificate or the application of pre-repay or the pre-repay testimonial.

(4) Property Ownership Certificate of the house mortgaged;

(5) Provide mortgage and pledge object’s right testimonial, stakeholder’s consent to mortgage and pledge, or guarantor presents other related material, or developer’s phase guarantee testimonial.

(6) loan use

(7) Other documents required.

(8) Other documents prescribed