Buying a new house with a bank loan is stipulated by the People's Bank of China to buy insurance. The insurance name is Personal Loan Mortgage home insurance, which is a special kind of property insurance. If the borrower (that is, the borrower) is unwilling to repay the loan after the main guarantee house is damaged due to the insurance accident, the insurance company will return the remaining loan to the bank, and the damaged house will be owned by the insurance company.

If the house is not damaged, the borrower is unwilling to repay, and the mortgaged house belongs to the bank. Only when the borrower pays off all the loans can he obtain the property right and dispose of it freely.

In fact, whether you are a second-hand house or not, the bank will ask you to buy this kind of insurance because of the risk. But if your agent says you don't need to buy it, it may be included in the agency fee, transfer fees, evaluation fee or other miscellaneous fees, so don't pay the insurance premium again. ?