Collateral provides additional protection: in mortgage loan, the collateral provided by the lender is used as the collateral of the loan to provide additional protection for the bank. If the lender fails to repay the loan on time, the bank can recover the debt by disposing of the collateral, which reduces the risk of default.
Asset value evaluation: the bank will evaluate the collateral to ensure that its value is enough to cover the loan amount. This can reduce the risk of banks and improve the pass rate of loans.
Evaluation of repayment ability: Although the collateral provides a certain guarantee, the bank will still evaluate the repayment ability of the lender. They will consider the lender's income, credit history and liabilities to ensure that the lender has sufficient repayment ability.
It should be noted that although the pass rate of bank mortgage loans is relatively high, the specific pass rate still depends on the lender's personal situation and the bank's approval criteria. If the lender has a good credit record, a stable source of income and the value of collateral meets the requirements of the bank, the pass rate will be higher. In addition, the approval standards and requirements of different banks may be slightly different, so when applying for mortgage loans, it is recommended to consult a number of banks, compare the conditions and interest rates of different banks, and choose the most suitable lending institution.