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 term or sell or transfer the personal housing mortgaged to the bank to a third person, and applies for personal housing loan to change the loan term, borrower or collateral.

Business process of remortgage:

The buyer and the seller sign a house sales contract;

The buyer and the seller signed a security guarantee contract for the sub-mortgage transaction with the law firm;

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);

Confirmation letter of the seller's loan bank agreeing to one-time prepayment (including the principal and interest of the owed funds and repayment account number);

The Buyer applies for a second-hand house mortgage loan from the loan bank according to the aforementioned documents and personal credit documents (loan application, lawyer's preliminary examination and bank review);

The seller actually delivers the house to the buyer;

Lending and transferring money to the seller's bank after the bank has passed the examination;

After receiving the money, 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;

The buyer's loan bank will pay 30% down payment to the seller.