(a) to apply for personal mortgage (pledge) revolving loan with real estate as collateral, the following conditions shall be met:
1. The mortgaged property must be legally and completely owned by the borrower and conform to the provisions of the Guarantee Law. Currently limited to residential and commercial buildings.
2. If the third party owns the property or the borrower and the third party * * * own the property as collateral, when applying for personal mortgage (pledge) revolving loan, the property owner or * * * owner must directly go to the bank to sign all relevant documents with his valid identity certificate. If there are * * * copies, the applicant shall be required to provide proof of ownership and clarify its share; If * * * is the same as * * *, the applicant is required to provide other written documents that the * * * people unanimously declare their consent.
3. Commercial houses used as collateral must be street-facing commercial houses with independent property rights, which can be disposed of separately, with good location and great appreciation potential.
To apply for personal mortgage (pledge) revolving loan business with commercial housing, a database of commercial housing should be established with secondary behavior units, a detailed map of the geographical distribution of commercial housing that can be mortgaged in this region (specific to the house number) should be drawn, and the highest unit price of commercial housing that can be mortgaged in each region should be determined with reference to the actual transaction price. After the above information is reported to the retail loan center of tier-one branch for filing and approval, it will serve as an important reference for the mortgage access and valuation of commercial housing. The above information and data are revised once a year.
4. It must be based on the appraisal results of real estate value issued by professional appraisal institutions recognized by the Bank in accordance with prudent appraisal methods. The handling bank shall conduct internal evaluation according to the principle of prudence, and comprehensively consider the local real estate market conditions, development trends, transaction costs, transaction time and the difficulty of realizing specific real estate, and appropriately adjust and confirm the final evaluation value, which can only be equal to or lower than the evaluation results of professional evaluation agencies.
5. It must be the property that has not been mortgaged to other creditors (except that it has been mortgaged to our bank according to the previous loan contract).
6. The standard of real estate mortgage rate shall conform to the relevant documents of the Head Office.
(2) Application process
1. You apply to the handling bank for personal mortgage (pledge) revolving loan and provide materials.
2. The lender shall conduct examination and approval according to procedures.
In principle, the approval time of retail loan centers of tier-one branches shall not exceed 10 working days.
As there are differences in different regions, please consult the personnel at the loan handling outlets for details.
The above contents are for your reference. Please refer to the actual business regulations.
If you have any questions, please contact online customer service of Bank of China.
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