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  • September 19, 2014
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  1. Low-cost mortgages for young proposed

    Posted Jul 13th 2012, 12:00am

    ... Joyce Ng joyce.ng@scmp.com The government should provide low-interest or interest-free loans to young homebuyers, a think tank suggested, after a survey found nearly 70 per cent of those ... favoured low-interest or interest-free loans, while 22 per cent preferred official measures to regulate the market and stabilise prices. Wu said the government should consider resurrecting loan ...

  2. Top adviser airs doubts on reverse mortgages

    Posted Dec 27th 2010, 12:00am by Patsy Moy

    ... this month, would enable the elderly to use their self-occupied and non-mortgaged homes as collateral for reverse mortgage loans in return for annuity payments while they continued living in those ... family members did not agree to use the owner-occupied home of an elderly person as collateral for a reverse mortgage loan. One audience member said the administration should consider raising ...

  3. Mortgage your homes, financial chief tells jobless middle class

    Posted Feb 27th 2009, 12:00am by Ambrose Leung

    ... Ambrose Leung The financial secretary said yesterday that middle-class people who had lost their jobs because of the financial crisis could borrow from banks, as they could mortgage their properties. John Tsang Chun-wah also said the government had no intention of creating a loan scheme to help the unemployed, and urged people not to be 'fussy' about the pay levels offered ...

  4. HKMC considers reverse mortgages

    Posted Sep 11th 2004, 12:00am by Louis Beckerling

    ... the bank will repossess and sell the property to recover the loan. Any surplus from the sale after the reverse mortgage has been recovered will be returned to the home owner's estate. ... repaying the mortgage loan,' Mr Fok said. By re-mortgaging their homes, such elderly people could continue to live in their properties while drawing down the equity they had built up ...

  5. HSBC offers mortgage cover

    Posted Nov 02nd 2003, 12:00am by Chris Oliver

    ... Chris Oliver Mortgage holders worried about loss of income due to unemployment or illness can ameliorate the risk with a new insurance product offered by HSBC, one of only two policies of its kind available in Hong Kong. HSBC's Mortgage Repayment Protection Plan, which is due to launch this week, offers coverage for residential home loans held with HSBC for both new ...

  6. Mortgage tax allowances extended

    Posted Mar 11th 2004, 12:00am by Staff Reporter

    ... Louisa Yan The measure, costing the government $4.6b a year, cheers struggling homeowners Homeowners will benefit from the extension of tax allowances on mortgage interest and reductions in rates and government rent. Home loan payments will be tax-deductible for seven years, up from five years. Owners can claim up to $100,000 a year. Some 420,000 taxpayers will be entitled to claim ...

  7. China weighs reverse mortgages

    Posted Dec 08th 2003, 12:00am by Elaine Chan

    ... Elaine Chan Elderly citizens could soon receive increased incomes under the scheme China is studying plans to introduce reverse mortgages to help elderly citizens increase their incomes ... the scheme. The committee will report to the State Council, development group chairman Meng Xiaosu told the South China Morning Post. Mr Meng said the scheme, a type of home equity loan that allows ...

  8. Tapping pensions helps flat buyers

    Posted Jun 06th 2012, 12:00am

    ... cent of the purchase price of the new home, and finance the remaining 375,000 yuan with a 30-year term mortgage loan. For a total of 500,000 yuan, she bought a 750 sq ft, two-bedroom apartment. Lou said her loan had an interest rate of 4.9 per cent, compared to 7 per cent for a conventional mortgage loan. Under the terms of the 30-year loan, she said her monthly repayment would ...

  9. Budget measure badly targeted

    Posted Mar 15th 2004, 12:00am by Staff Reporter

    ... I am disappointed that the financial secretary proposes to extend the salaries tax deduction for home loan interest from five to seven years. The budget speech says the deduction was introduced 'to provide relief to households heavily burdened with home mortgage payments'. But, according to the government's own figures, this tax subsidy mainly benefits the higher ...


    Posted Mar 02nd 2012, 12:00am

    ... Last year's population census has revealed that 60 per cent of Hong Kong's 1.2 million households that own and occupy their homes do not pay mortgages. A total of 3.6 million people live in private housing, while the remaining 4.5 million live in public or subsidised housing. Compared with 10 years ago, fewer people are living on Hong Kong Island or in Kowloon, while ...




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