Mortgage Insurance | South China Morning Post
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  • Apr 2, 2015
  • Updated: 9:31am

Mortgage Insurance

Hong Kong Mortgage Corporation chief hints at price rises in risky property market

Insurance likely to rise in risky property market

Homebuyers may have to pay more for mortgage insurance because the leading provider, the Hong Kong Mortgage Corporation, is looking to offset its risk in guaranteeing their loans in a risky property market where prices remain at near-record highs.

Tuesday, 16 April, 2013, 5:32am

Britain's Help to Buy homes plan a mixed blessing for Hong Kong

British Chancellor of the Exchequer George Osborne. Photo: AFP

As part of his latest budget, Chancellor of the Exchequer George Osborne introduced Help to Buy, a combination of shared-equity loans for buyers and mortgage guarantees for lenders. The plan is open to first-time buyers and home movers, but not Hong Kong investors or other second-home buyers, although they will be indirectly affected.

27 Mar 2013 - 5:44am

Homebuyers face squeeze on mortgage payment protection insurance

CEO Raymond Li is watching the market closely.

The Hong Kong Mortgage Corporation may further tighten eligibility for its payment protection insurance on home loans, in light of rising interest rates.

17 Mar 2013 - 5:39am

Mortgage insurance market set for boost from HOS

Festival City in Tai Wai may be attracting buyers, but with a decline in sales generally, the mortgage market is changing. Photo: Bloomberg

Big rises announced by the government last week in the income and asset caps for applicants seeking to buy subsidised housing will create a new market for insured home loans, say analysts.

5 Dec 2012 - 4:15am

HKMC plans 10-year fixed-rate loans

The Hong Kong Mortgage Corp will launch a revised scheme offering homebuyers fixed-rate loans for up to 10 years, according to executive director Peter Pang Sing-tong.

'The probability of interest rates going up is higher than them coming down further,' Pang said. He declined to speculate when rates could rise.

21 Oct 2009 - 12:00am

Big loans require insurance

Some major lenders in Hong Kong are prepared to loan as much as 95 per cent of the purchase price of a property. But built into the repayment plan is an insurance premium. 'If you, [for example] want to buy a HK$2million property, [some] banks can lend you 95 per cent at, say, a rate of prime minus 3.15 per cent', say Sharmaine Lau Yuen-yuen, chief economic analyst at mReferral.

24 Oct 2008 - 12:00am

HKMC to set up Shenzhen mortgage insurance joint venture

The government-run Hong Kong Mortgage Corp (HKMC) will set up a joint venture with a subsidiary of the People's Bank of China in Shenzhen to provide mortgage insurance services for homebuyers.

9 Jul 2008 - 12:00am

Mortgages with 40-year tenor on HKMC cards

Move seen as shift from price war

Hong Kong homebuyers will be able to get 40-year mortgages for the first time under new loan plans offered by the government-run Hong Kong Mortgage Corp.

27 Apr 2007 - 12:00am

Lender expands mortgage portfolio

Hang Seng Bank yesterday became the first lender to offer mortgages with more than 70 per cent loan-value ratio for properties that have completed the government's building rehabilitation scheme.

18 Mar 2005 - 12:00am

Homebuyers rush for cover that allows 95pc mortgages

The 95 per cent mortgage insurance programme has proven popular with borrowers, having received 4,200 applications since its launch in July last year, according to Kenny Fok Tsz-chun, a senior vice-president of Hong Kong Mortgage Corp (HKMC).

6 Jan 2005 - 12:00am

Mortgage refinance scheme expanded

Homeowners with negative equity can benefit from an easing of restrictions

Boutique mortgage refinancing firm Pan Asian Mortgage plans to expand a scheme targeting homeowners with negative equity after attracting 1,200 clients in its first year.

24 Jun 2003 - 12:00am