In fact, this is an act of refinancing.
Sub-mortgage is a personal housing mortgage loan. Personal housing mortgage loan refers to a loan in which the borrower who has applied for personal housing loan in the bank requests the original lending bank to extend the loan period or sell or transfer the personal housing mortgaged to the bank to a third party and applies for personal housing loan to change the loan period, borrower or collateral.
Business process of remortgage:
1. The buyer and the seller sign the house sales contract;
2. The buyer, the seller and the law firm sign the guarantee contract for the sub-mortgage transaction;
3. The buyer pays the down payment of 30% of the house price (according to the principle of lower transaction price and evaluation price, the evaluation is exempted within one year, subject to the original purchase price);
4. Letter of confirmation that the seller's loan bank agrees in writing to make a one-time prepayment (including the principal and interest of the funds owed and the repayment account number);
5. The buyer applies to the loan bank for second-hand housing mortgage loan according to the above documents and personal credit documents (loan application, lawyer's preliminary examination and bank review);
6. The seller actually delivers the house to the buyer;
7. Lend money after examination by the bank and transfer the money to the seller's bank;
8. After receiving the payment, the seller cancels the loan contract and mortgage registration with the original loan bank, handles the transfer with the buyer and lawyer, and mortgages it to the buyer's loan bank;
9. The buyer's loan bank will pay 30% down payment to the seller.