If you are exploring the possibility of financial support, wishing to buy real estate or requiring additional funds, the Chinese Bank of Commerce and Industry mortgages may be exactly what you need. The Bank of Commerce and Industry is one of the largest banks in the country, offering a variety of financial products and the advantages of housing mortgages。

What are the conditions for mortgages from business banks? These demands need to be met

First, the conditions for the performance of mortgages offered by business banks are not complex. Applicants must be Chinese citizens between 18 and 65 years of age and must be in possession of valid identification documents. Good credit records are necessary, and work and income certificates are used to demonstrate your ability to repay loans。

Second, it is also clear that the collateral strategy of the Bank of Commerce and Industry is that your property must be a legal dwelling in mainland China, both ordinary and commercial. Of course, the bank will assess your property, such as the size of the house, the level of renovation and the surrounding environment. And one more thing to be noted is that the value of your mortgage must be between 60 and 80%。

As for the repayment modality, BBC offers two main methods. Equivalent principal and principal. The monthly repayments are stable under the principal equivalents, while the monthly repayments under the principal equivalents are reduced month by month, as the principal is reduced. The duration of the loan is wide and can be self-selected over a period of 1 to 30 years。

But the important thing is that you need to strategically choose the loan product. You need to be clear about your own economic situation and budget so that you can choose the type of loan that best suits you. Remember that good lending practices can help you to build a good credit record, so please ensure that payments are made in full and on time, and avoid delays or any poor credit record。