Will there be a SMS notification when the mortgage is passed?

There will be a SMS notification when the mortgage is approved. After receiving the SMS notification, users need to sign a loan contract with the bank within the specified time. If the user fails to sign the contract within the specified time, it shall be deemed that the user has given up the mortgage application. In addition to SMS notification, some banks will call applicants to inform users that they have passed the mortgage review, and then they need to go to the bank to sign a contract.

If the mortgage fails, there will be a text message to inform the user. At this time, users can call the mortgage bank and ask the specific reasons for the failure.

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legal ground

"Measures for the Administration of Individual Housing Loans" Article 7 A borrower shall apply for a loan directly from the lender. The lender shall give a formal reply to the borrower within three weeks from the date of receiving the loan application and the materials that meet the requirements. After examination and approval, the lender shall issue housing loans to the borrower in accordance with the relevant provisions of the General Rules for Loans.