Mortgage Loan

Mortgage lending frozen at Pudong Bank branch

Shanghai Pudong Development Bank, in which Citigroup owns a stake, has been ordered by the regulator to suspend mortgage lending to individuals at one of its branches after the lender uncovered 126 million yuan of fraudulent home loans.

Tuesday, 13 June, 2006, 12:00am

Central bank fears on mortgage debt

Shanghai families pay almost half of income on home loans

Homebuyers' debts in the largest mainland cities are approaching dangerous levels, according to the central bank, as Beijing steps up measures to rein in skyrocketing property prices.

2 Jun 2006 - 12:00am

Property transaction value plunges

Updated at 7.13pm: The number of property transactions last month increased 8.5 per cent over April to 9,332 but the tally had plunged 37.2 per cent from May last year, and overall value declined sharply, Land Registry figures released on Friday showed.

2 Jun 2006 - 12:00am

BOC goes for rapid loan growth

Lender shrugs off possible effect of property market cooling measures on expansion of its loan portfolio

Bank of China, whose $75.4 billion flotation was the world's largest in six years, plans to expand its corporate and retail loans by between 10 per cent and 20 per cent a year over the next three years.

27 May 2006 - 12:00am

Mortgage approvals fall amid rate fears

New housing loan approvals fell 9.1 per cent last month to $11.5 billion after jumping 63 per cent in March, as sales in the property market slowed on concerns of further interest rate increases.

Lenders said homebuyers would remain cautious because of the uncertain interest rate outlook and the slumping stock markets.

26 May 2006 - 12:00am

Bocom unveils 42pc rise in profits

Bank of Communications, the mainland's fifth-largest commercial lender, said first-quarter profit rose 42.69 per cent as cost control and higher loan growth more than offset a fall in net interest margin.

Bocom said net profit rose to 2.9 billion yuan in the first three months from 2.03 billion yuan in the same period a year ago. Earnings per share rose 20 per cent to six fen.

24 May 2006 - 12:00am

Banks focus on service and variety

AS THE MAINLAND'S home mortgage market is not as competitive as Hong Kong's, most banks tend to attract customers with better service and greater product variety rather than price cutting.

Buyers can secure mortgage loans in yuan, Hong Kong or US dollars from mainland and foreign banks for luxury properties.

19 May 2006 - 12:00am


1986: First mortgage loan by China Construction Bank

1987: Shenzhen conducts first auction of land-use rights

1988: Constitution revised to allow transfer of land-use rights between individual entities, triggering a boom in property development in Guangdong

1993: Austerity measures introduced to clamp down on economic overheating

1 May 2006 - 12:00am

Mortgage wars hit DBS loan volume

Singapore's DBS Group Holdings blames the decline in its loan volume in the past three months, the first in three years, on the mortgage wars in Hong Kong and Singapore.

The group posted a net profit of S$518 million ($2.53 billion) for the first quarter, up 39 per cent from a year ago, while DBS Bank (Hong Kong) recorded a 29 per cent increase in net profit to S$156 million.

29 Apr 2006 - 12:00am

Young, secure and raring to buy

Twentysomethings seeking their own homes are giving the market a fresh look

When young twentysomethings start to buy their own homes, as is happening now in Hong Kong, they are clearly making a statement that market conditions are good for them. Not long ago, young homebuyers were unheard of in the market.

12 Apr 2006 - 12:00am

Cheung Kong joins loans war

Developer opens up a new front with 99.9pc mortgages and record low rates

Cheung Kong (Holdings) raised the stakes in the mortgage war yesterday, pitching an aggressive plan to homebuyers despite signs that property market sentiment may be improving.

15 Mar 2006 - 12:00am

StanChart seeks new staff for growth

Standard Chartered Bank (HK) is to boost its consumer banking unit by hiring more than 100 extra staff this year.

The move follows forecasts of a brighter outlook for the sector after almost five years in the doldrums.

Consumer banking head Benjamin Hung Pi-cheng said deflationary pressure had made for flat growth in Hong Kong over the past four to five years.

15 Mar 2006 - 12:00am

Mortgage lending slumps to lowest level in two years

Holiday hits sales as homebuyers keep hands in pockets and sights on rates

New home loans hit two-year lows last month as the Lunar New Year seasonal slump and interest rate uncertainty kept new homebuyers out of the market.

25 Feb 2006 - 12:00am

Rate cuts lift home sales

Last week's mortgage offers are brightening prospects for cautious buyers

Secondary home sales jumped 40per cent last week as interest rate cuts boosted a market that has been sluggish for eight months.

Property agents said cautious home seekers were more willing to shop after HSBC announced a cut in its mortgage rate last Wednesday and other banks followed suit.

22 Feb 2006 - 12:00am

Lenders miss a step as rising rates put brakes on new home loans

It's happened. The upward march of interest rates has halted the recovery of Hong Kong's property market in its tracks and thrown the brakes on demand for new home loans.

6 Oct 2005 - 12:00am