Bank of China’s personal first-hand housing loan guarantee requirements:

Bank of China’s personal first-hand housing loan must be secured by the purchased house, and the lender can provide additional guarantees based on the borrower’s specific circumstances. It is decided whether to add a pledge guarantee, a natural person joint and several liability guarantee, or a joint and several liability guarantee from a local guarantee company recognized by the lender.

Before the mortgage registration procedures are officially completed, a periodic guarantee must be set up. The periodic guarantee must be borne by the developer. If the developer cannot afford the periodic guarantee, it must provide pledge guarantees, guarantee guarantees, and other guarantees recognized by the lender.

If an event occurs to the borrower or the guarantor that the lender believes may affect its ability to perform the contract, or the guarantee contract becomes invalid, revoked or terminated, or the economic status of the borrower or the guarantor deteriorates or is involved in major Litigation or arbitration cases, or other reasons that may affect its ability to perform, or the guarantor defaults under the guarantee contract or other contracts with the lender, or the collateral depreciates, is damaged, lost, or is seized, resulting in the guarantee When the value weakens or is lost, the lender has the right to request, and the borrower is obligated to provide new guarantees, replace guarantors, etc., to guarantee the debts under this contract.

The above content is for your reference, please refer to actual business regulations.

If you have any questions, please feel free to consult Bank of China’s online customer service.

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