1, the first mortgage loan is less than 70%, which has the value of a second mortgage.
2. The creditor's rights secured by the secondary mortgage shall not exceed the value of the collateral.
3. The second mortgage property must be an existing house, and the auction house cannot handle the second mortgage.
Note that the loan interest rate of the second mortgage will be higher than that of the first mortgage. In addition, only some banks support the second mortgage, so you should consult the bank before applying.
The process of secondary mortgage of houses
1. First of all, you need to submit an application for a second mortgage to the loan bank, and the bank will agree before you can apply for a second mortgage. The loan bank here is the bank you applied for a loan before, because the same property cannot be mortgaged to different banks.
After the application is approved, you need to submit the information needed for the loan to the bank, which will review your information and tell you the result after the review.
3. After approval, it is necessary to sign a secondary mortgage contract with the bank and go through the notarization procedures for the loan contract.
After the formalities are completed, the bank will lend you money on the specified date.
What are the precautions for secondary mortgage of houses?
1. Agreement on loan amount of secondary mortgage real estate: loan amount = house value * mortgage rate-original loan principal balance;
The value of the house is compared with the original purchase price of the house and the evaluation price at the time of secondary mortgage, and the lower one is taken. The mortgage rate of secondary loans with housing mortgage shall not exceed 70%; The mortgage rate of secondary loans for commercial housing mortgage shall not exceed 50%.
2. The loan procedures are basically the same: the procedures and documents to be collected for the second mortgage and the first mortgage are basically the same. The legal effect after registration is different in the order of realizing mortgage.
3. The second mortgagee shall fulfill the obligation of informing: Although the Measures for the Administration of Urban Real Estate Low Pressure stipulates that the second mortgage does not require the consent of the first mortgagee, the second mortgagee shall fulfill the obligation of informing. However, in the actual mortgage process, if the first mortgage contract requires the consent of the first mortgagee, it must be observed in accordance with the contract. At the same time, the second mortgagee must be informed of the mortgage loan that has been made, otherwise, the mortgagee has the right to ask the mortgagor to stop its loan behavior according to the relevant regulations, which is also a key point in the secondary mortgage of real estate.
4. The value shall not exceed the value after one loan: the right value of two mortgages shall not exceed the balance of the house value after the first mortgage guarantee. If the mortgagor can't pay off the debt, he will file an administrative lawsuit with the registration department.