1. Bank secondary mortgage refers to re-mortgaging mortgaged properties and obtaining loans from specific lenders. The characteristic of secondary mortgage is that you can get a loan again without paying off the previous loan, which saves time and the cost of prepayment.

2. For example, suppose a property has been mortgaged in the bank and is still being repaid normally. In this case, if the owner applies for a mortgage loan again, there is no need to pay off the bank loan in advance. As long as he can pass the professional evaluation, he can re-mortgage according to the evaluation value.

Secondary mortgage belongs to balance mortgage. As long as there is a balance in the value of the property after the first mortgage, it can be used as a second mortgage or a third mortgage. At present, the common forms of balance mortgage in China are generally five-color soil mortgage, pawn mortgage or professional loan company mortgage.

The applicant only needs to go through the mortgage registration formalities once to realize the maximum mortgage loan. After obtaining the maximum loan amount, the loan can be withdrawn by stages as needed, and the interest calculation time is based on the actual payment time of each payment.

Reference: Baidu Encyclopedia "Second Mortgage"