Educational land cannot be used for mortgage loans. Educational facilities of public institutions and social groups for public welfare purposes are not allowed to be mortgaged. Generally, educational facilities, medical and health facilities and other public welfare facilities of non-profit legal persons established for public welfare purposes such as schools, kindergartens, medical institutions, etc. No mortgage is allowed.
What are the requirements for a mortgage loan?
1. The borrower must be over 18 years old, and the borrower must be no less than 65 years old in the final repayment period;
2. The individual has a stable job and address in the local area;
3. Provide proof of ownership of the mortgaged property, such as real estate certificate, vehicle driving license, etc.;
4. The individual has good credit, No bad credit history, especially overdue credit card loans or cash outs.
Legal basis: Article 399 of the "People's Republic of China and Civil Code"
The following properties may not be mortgaged:
(1) Land Ownership;
(2) The use rights of collectively owned land such as homesteads, private plots, and private hills, except those that can be mortgaged according to law;
(3) Schools, kindergartens, medical Educational facilities, medical and health facilities and other public welfare facilities of institutions and other non-profit legal persons established for public welfare purposes;
(4) Properties whose ownership and use rights are unknown or in dispute;
(5) Properties that have been sealed up, detained, and supervised in accordance with the law;
(6) Other properties that are not allowed to be mortgaged according to laws and administrative regulations.