Discussion And Improvement Measures Of The Housing Mortgage System In China

The housing mortgage, also known as mortgage of pre-selling commercial house,hasbeen widely used as a way of house purchase in China.Mortgage system originated in theAnglo-American law and improved continuously.Our country’s mortgage system was firstintroduced from Hong Kong and improved rapidly.The system of housing mortgage helps realestate developers expand consumer groups, enhances the buyers’ ability, and creates alow-risk asset investment market for bank.Unfortunately, existing laws and regulations do notprovide clear rules about the housing mortgage.There are considerable controversies on thedefinition, the legal nature and legal relationship about housing mortgage. This has led to alarge number of disputes in practice. This article intends to study the legal nature of thehousing mortgage, and make a few suggestions for the improvement of the system.The paper is divided into four parts:The first part describes the housing mortgage system briefly. The article introduces themeaning and development of the housing mortgage system, discusses mortgage system of thecommon law countries and Hong Kong and the present situation of the system, and analyzesthe transaction structure of housing mortgage system in our country.The second part is to define the legal nature of the housing mortgage system. It analyzesthe existing theories about the legal nature of the housing mortgage system. It also clarifiesthe housing mortgage’s legal character by comparing the similarity and difference betweenmortgage, pledge, and transferring guarantee. It describes the legal nature of the housingmortgage in our country.The third part analyzes the main problems of the housing mortgage system.The fourth part explains the improvement of the housing mortgage system and makes afew suggestions about the improvement of our system against the problems that exist in thehousing mortgage system.