As the economy develops and the real estate market booms, mortgages have become an important route for many to buy. However, after the purchase of the house, many people would need additional loans to meet their living needs for a number of reasons, which would have to be borrowed at that time, and could they be borrowed after the approval of the mortgage? This issue is multifaceted and will be analysed from a different perspective。

Can I borrow it after the mortgage approval

Perspective I: Legal level

In accordance with the regulations of the China Banking Supervision and Management Board, it is my understanding that bank loans should be used for legitimate purposes related to house purchases, renovations and foreclosures, and not for other consumption expenditures. Market lending, or other consumer loans, is now largely based on consumer spending, so, at the legal level, it cannot be borrowed after approval of the mortgage。

Angle Two: The Level of Borrowing

Mortgages and loans are two different types of loan products, usually longer and larger, while loans are generally smaller but interest is higher and of shorter duration. Borrowers usually need credit records and repayment capacity, and borrowing that is overdue may affect personal credit records and bank credit assessments of individuals。

Therefore, borrowing for consumption expenses other than house purchases requires additional interest and personal credit risk, to the detriment of personal credit records and financial position。

Perspective III: Practical dimensions

On a practical level, the use of loans after approval also depends on the actual situation of the individual. If an individual ' s financial situation is better and household income is more stable, borrowing may be considered to cover living expenses over time. But if, for some reasons, the individual is less affordable, the use of borrowing in the long term increases the debt pressure on the individual and may lead to difficult repayments。

Therefore, if there is a genuine need, it is recommended that priority be given to the use of other secured credit or debt-for-money to relieve borrowing pressures。