One of China’s big state-owned banks hopes to increase the convenience of mortgage applications via the provision fo anew “one stop” service for the registration of immoveable property on behalf of clients.
Postal Savings Bank of China (PSBC) recently launched its “one-stop immoveable property mortgage registration service” at branches around the country.
Customers applying for mortgages can submit the relevant materials to PSBC branches, which will then apply online with China’s immoveable property registration authorities for handling on their behalf.
The service has been integrated at 36 of PSBC’s first-tier branches, 234 of its second-tier branches and 1075 of its sub-branches.
PSBC says the new service will greatly increase the ease and convenience of immovable property registration, as well as reduce the time required to process and approve new mortgage loans.