2. Preparation of loan materials: The borrower and the mortgagor shall prepare all the documents and certificates required for applying for loans as required.
3. Appraisal of house inspection: relevant institutions conduct on-the-spot investigation, appraisal (survey) and evaluation of mortgaged houses.
4. Loan approval: submit all loan application materials together with the evaluation report or opinion to the bank for approval.
5. Mortgage registration procedures.
6. Legal basis: Article 394 of the Civil Law of People's Republic of China (PRC) stipulates that in order to guarantee the performance of the debt, if the debtor or a third party does not transfer the possession of the property and mortgages the property to the creditor, if the debtor fails to perform the due debt or realize the mortgage right according to the agreement of the parties, the creditor has the priority to be compensated. 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.