The process of remortgaging a mortgaged house:

1. The original borrower needs to apply to the bank.

2. The bank will review and approve the application submitted and the information provided. After review and approval, the bank's house collector and the house buyer will sign an agreement, which requires the seller to agree to transfer the house and the house buyer promises. At the time of transaction, the house payment is transferred to the seller's bank account.

3. The house seller and the house buyer sign a housing transfer contract.

4. The home buyer submits a new loan application to the bank, and the applied loan amount will be regarded as the remaining loan balance of the home seller.

5. Sign a new loan contract and mortgage contract with the home buyer, and issue a commitment letter agreeing to the loan.

6. The bank and the house seller go to the real estate management department to handle the mortgage cancellation registration procedures.

7. After the house seller and the house buyer have completed the house ownership transfer procedures, they will sign the mortgage registration procedures with the new house buyer again.

8. After authorization, the loan will be transferred to the account opened by the house seller, and the remaining outstanding loan principal and interest will be directly deducted, and the previous loan contract will be terminated.

Jiwu Real Estate Encyclopedia, more necessary knowledge for buying a house