The main lender usually refers to the main person in charge of applying for mortgage, who is the borrower in the bank loan contract, while the sub-lender is the * * * borrower who shares the repayment responsibility with the main lender. During the loan period, the main lender has a series of rights, such as deciding the purpose of the loan and assuming the main repayment responsibility of the loan. However, the sub-lender shall be jointly and severally liable for repayment. If the primary lender fails to repay the loan, the secondary lender shall bear the remaining repayment responsibilities.
Judging from the credit record, only the credit report of the main lender will show the mortgage record, while the credit record of the sub-lender will not. This means that if the main lender repays on time, only the main lender can establish a good credit record; If the primary lender defaults, the credit record of the secondary lender will not be affected, but it will be liable for repayment.
From the perspective of repayment responsibility, the sub-lender needs to bear joint and several repayment responsibilities. If the primary lender fails to repay the loan, the secondary lender shall bear the remaining repayment responsibilities. This means that the sub-prime lender should always pay attention to the repayment of the main lender during the loan period to ensure the normal repayment of the loan.
Judging from the loan interest rate and approval, banks will mainly consider the financial situation of the main lender when approving loans, such as income and credit information. Therefore, if the main lender has a good financial situation, it can get a lower interest rate and a higher loan amount.
Introduction of main lender and sub-lender
The main lender is the borrower who applies for mortgage loan from the bank, that is, the owner of the real estate license. For example, Mr. Zhang wants to buy a house. He applied for a mortgage loan from the bank and registered his name on the property certificate. Then Mr. Zhang is the main lender.
Sub-lender refers to the borrower who applies for housing mortgage loan to the main lender, that is, the owner of the real estate license. For example, Mr. Zhang's wife, Ms. Li, also wants to participate in the purchase of a house. She applied for a mortgage loan with Mr. Zhang and registered her name on the real estate license, so Ms. Li is a subprime lender.