I. Definition of product

Personal Second-Handed Mortgage Loan refer to the loans issued by the Bank to borrowers to purchase houses that can be legally traded on the stock market with the house seller obtaining the house ownership certificate and having complete disposal rights for the house.

  

II. Applicable clients

Credit extension objects: natural persons between the age of 18 (inclusive) and 65 (inclusive) with full capacity for civil act (including Chinese citizens, persons from Hong Kong, Macao and Taiwan, as well as foreigners, etc.)

  

III. Functional characteristics

(I) Loan amount: It refers to the loan-to-value combined with the type of real estate and the number of housing units purchased, which is implemented according to the latest housing loan policy; the lower one of the transaction value and the appraised value is adopted for the market value of the purchased property;

(II) Periods: The period of individual housing loans shall not exceed 30 years; individual commercial housing loans shall not exceed 10 years (the maximum period shall not exceed 5 years in case it is a warehouse or factory); the sum of the age of the borrower and the loan period shall not exceed 70 years (for high-quality clients, it can be appropriately extended by 5 years); the sum of the age of the transaction property and the loan period shall not exceed 60 years;

(III) Loan purpose: It is used for purchasing newly developed and constructed real estate that can be circulated in the new housing transaction market; the purchaser of the parking space (garage) shall be the property owner of the same real estate in principle;

(IV) Warranty method: mortgage or mortgage plus warranty;

(V) Repayment method: monthly payment (successive subtraction or equal amount method);

(VI) Interest rate: The loan interest rate is implemented in conjunction with relevant regulations of the linear management department according to the lower limit of the product interest rate determined by the Main Branch.

  

IV. Application requirements

(I) Being at least 18 years old and under 65 years old;

(II) Presenting the legal and valid identity certificate, marital certificate and household register certificate (or valid residence certificate);

(III) Being able to fully and promptly repay capital and interest with stable and legal source of income;

(IV) Not being included in the Supreme People’s Court’s list of dishonest persons subject to enforcement;

(V) Being able to pay the first installment of the house purchased;

(VI) Being willing to repay with a good credit record;

(VII) Other requirements stipulated by the Bank.

For joint borrowers, any person who meets the above conditions can apply for a loan. However, minors shall not be included in the joint buyers.

  

V. Business materials

(I) Information of borrowers

1. Identity documents of the borrower and spouse;

2. Household register certificate (or residence booklet, etc.) or original valid residence certificate of the borrower of spouse;

3. Original certificates of the marital status of the borrower;

4. Relevant materials of the co-applicants shall also be provided in case there are co-applicants;

5. The House Purchase and Sale Contract signed with the seller (the subscription can be submitted first in case it is not available during application; the House Purchase and Sale Contract can be provided before the loan is issued);

6. The first payment receipt or invoice as well as other relevant materials such as transfer payment vouchers, etc. (it can be provided before the loan is issued) of the borrower;

7. The Spouse Agreement Mortgage Statement shall be provided before the loan is issued in case the borrower is married and has not applied for the co-borrower. Besides, the borrower can also sign in the contract mortgage list;

8. Certification materials of the borrower’s loan repayment ability, including but not limited to salary income, operating income, lease income or other asset proof materials;

9. For the purchaser, the spouse of the purchaser and the minor members of the family whose mortgage loan is used for purchasing a residential house, a housing status statement shall be provided;

10. Relevant information of the warrantor shall be provided in case an additional guarantor is involved as a guarantee warranty;

(II) Information of sellers

1. The ownership certificate of the transaction real estate and the legal as well as valid identity certificate of the property owner (including the co-owner holding the joint certificate)

2. The Property Disclosure Statement issued by the seller. Lease Contract, Tenant Statement shall be provided in case the nature of the transaction property is a shop, office building, factory building, warehouse or parking space being rented out. In case it is true that the lessee does not cooperate in providing the Tenant Statement, the handling branch shall perform an on-site investigation and verify the reasonableness of the rent level of the mortgaged property during the lease period and report it after truthful disclosure in the investigation report to ensure that there is no long-term low rent for the mortgaged property; 

3. A legal and valid business license (duplicate), organization code certificate (duplicate), tax registration certificate (duplicate), legal representative certificate, legal representative ID card, legal representative authorization letter, articles of association as well as the documents that the Board of Shareholders or the Board of Directors agree to sell the resolution paper, etc. shall be provided in case the seller is a legal person. A written certificate issued by the relevant stare-owned asset management department that agrees to the transfer of the real estate shall also be provided in case the real estate to be transferred is a state-owned asset; 

(III) Other information required by the Bank.