Mortgage plus guarantee refers to the loan issued by the lender to the borrower on the basis that the borrower has not obtained the property right of the purchased house, and requires the borrower to provide a third-party joint and several liability guarantor with the ability to pay off on behalf of the borrower as the loan guarantee. At present, the developer of the purchased house is generally required to be the guarantor.

First, the concept of phased guarantee

Stage guarantee originates from the pre-sale of commercial housing. The main reason why the bank needs the developer to provide staged guarantee when handling the mortgage registration of pre-sale commercial housing is that although the buyer has signed the house sales contract, after all, the buyer has not obtained the property right of the house ownership, and the bank has not obtained the formal mortgage of the house purchased. Before a bank can obtain a formal mortgage loan, it needs to go through the stages of the completion of the pre-sale commercial housing, the acquisition of the ownership of the pre-sale housing by the purchaser, and the completion of the mortgage registration of the pre-sale housing by the bank, so there is an unknown time state before the bank can successfully obtain a formal mortgage loan.

2. What is the difference between phased guarantee and full guarantee?

1. Different warranty periods

For example, the loan period is 3 years, the whole guarantee period is more than 3 years, and the phased guarantee is at some time within 3 years. For example, before the real estate license is mortgaged, the mortgage loan is guaranteed by the developer, which is a phased guarantee, and then the real estate mortgage.

2. The risks are different

For example, the loan guarantee in the bank is guaranteed by the developer for the lender, while the guarantees provided by some developers are all guarantees. Compared with term guarantee, the overall guarantee risk is relatively large.

To sum up, entrusting a third party as an economic guarantee ensures the repayment ability of citizens when they are in debt, but the guarantor is not always willing to bear this high-risk responsibility, so the guarantor can choose to bear the responsibility within a certain period of time without any obligation to repay on his behalf.

Legal basis:

Article 394 of the Civil Code of People's Republic of China (PRC)

In order to ensure the performance of the debt, if the debtor or a third party mortgages the property to the creditor without transferring the possession of the property, if the debtor fails to perform the due debt or realize the mortgage according to the agreement of the parties, the creditor has the right to be compensated 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.