It takes about two weeks for Bank of Beijing’s second-hand housing loan approval, and about one month from loan application to loan disbursement.

In April 2010, the State Council's "Ten Articles of the Nation" stipulated that: For families who purchase a second home with a loan, the down payment ratio of the loan shall not be less than 60%, and the loan interest rate shall not be lower than 1.1 times the benchmark interest rate.

Loan process:

⑴ The house buyer and the house seller sign a house sales agreement or house sales contract;

⑵ The qualified house buyer proposes to the lending bank Apply for a loan and provide relevant supporting materials;

⑶ The buyer and seller go to the appraisal agency designated (approved) by the loan bank for house evaluation;

⑷ The law firm’s credit certification of the borrower The materials and evaluation reports will be authenticated, investigated and analyzed, and a "Legal Opinion" will be issued;

⑸ The lending bank will conduct the review and approval and notify the borrower whether the applicant agrees to the loan;

⑹ Processing by both the buyer and the seller Property rights transfer procedures. After the transfer, the borrower goes to the bank to handle the loan procedures;

⑺ The home buyer signs a second-hand housing mortgage loan contract with the lending bank;

⑻ The buyer and seller will transfer the property rights after the transfer. The house ownership certificate is sent to the lending bank for mortgage registration procedures;

⑼ After the loan contract takes effect, the lending bank transfers funds according to the loan contract;

⑽ The borrower repays monthly;< /p>

⑾ The borrower repays the principal and interest of the loan and releases the mortgage guarantee.