Bank loan process: 1. Submit personal loan application first; 2. The bank evaluates the mortgaged property after accepting it; 3. Review the loan according to the appraised price and the information provided by the borrower; 4. After passing the examination, sign a loan contract with the law firm and go through the mortgage formalities of the immovable property certificate; 5. Bank loans.
Legal basis: Civil Code of People's Republic of China (PRC).
Article 394 Where the debtor or a third party mortgages the property to the creditor for the purpose of guaranteeing the performance of the debt, and the debtor fails to perform the due debt or realize the mortgage right according to the agreement of the parties, the creditor has the right to be paid in priority for the property.
The debtor or the third party specified in the preceding paragraph is the mortgagor, the creditor is the mortgagee, and the property that provides guarantee is the mortgaged property.
Article 400 To establish a mortgage, the parties shall conclude a mortgage contract in writing.
A mortgage contract generally includes the following clauses:
(1) The type and amount of secured creditor's rights;
(2) the time limit for the debtor to perform the debt;
(3) The name and quantity of the mortgaged property.
(4) Scope of guarantee.