The Measures for the Administration of Individual Housing Loans have corresponding provisions:

Article 2 Personal housing loans (hereinafter referred to as loans) refer to loans granted by lenders to borrowers for purchasing ordinary housing for their own use. When a lender issues a personal housing loan, the borrower must provide a guarantee.

If the borrower fails to repay the principal and interest of the loan at maturity, the lender has the right to dispose of its collateral or pledge according to law, or the guarantor shall be jointly and severally liable for repaying the principal and interest. The loan object should be a natural person with full capacity for civil conduct.

Extended data

According to Article 14 of the Measures for the Administration of Individual Housing Loans

If the term of individual housing loan is within 1 year (including 1 year), the contract interest rate will be implemented, and interest will not be calculated by stages if the legal interest rate is adjusted; If the loan term exceeds 1 year, if the legal interest rate is adjusted, the new interest rate regulations will be implemented at the beginning of next year according to the corresponding interest rate grades.

Article 15

The loan collateral shall comply with the provisions of Article 34 of the Guarantee Law of People's Republic of China (PRC). Property that cannot be mortgaged as stipulated in Article 37 of the Guarantee Law of People's Republic of China (PRC) shall not be used for loan mortgage.

Article 16

If the borrower takes the purchased owner-occupied house as loan collateral, it must take the full value of the house as loan collateral.

Article 17

Where real estate is mortgaged, the mortgagor and the mortgagee shall sign a written mortgage contract and go through the mortgage registration formalities at the department designated by the local people's government at or above the county level before the loan. The relevant contents of the mortgage contract shall be determined in accordance with the provisions of Article 39 of the Guarantee Law of People's Republic of China (PRC).

Article 18

The borrower must properly keep the mortgaged property during the mortgage period, be responsible for repairing and maintaining it and ensure that it is intact, and accept the supervision and inspection of the lender at any time. Before the expiration of the mortgage period, the lender shall not dispose of the mortgaged property without authorization.

Refer to Baidu Encyclopedia-Measures for the Administration of Personal Housing Loans