Mortgage Loan

Nine held in $100m bank loan swindle

The ICAC has uncovered a syndicate allegedly involved in a $100 million mortgage loan swindle from the China and South Sea Bank.

Thursday, 25 May, 2000, 12:00am

House of funds

Elderly homeowners could be allowed to tap their home equity for income if an idea floated by Executive Councillor Tam Yiu-chung gets the green light.

Mr Tam, who is also a Legislative Councillor representing the New Territories West, plans to submit a question in Legco next month asking the Government to study the feasibility of reverse mortgages.

20 Feb 2000 - 12:00am

Auckland house sales buoyant

Auckland's residential market is showing all the signs of having recovered from its downturn last year. Sales numbers for the first three-quarters of this year have been above the previous year's.

Many analysts foresaw a recovery during the last part of 1998 given a favourable environment of improved consumer and business confidence and historically low mortgage rates.

13 Oct 1999 - 12:00am

Low-interest home loans prove to be well named

ONLY 150 applications have been received for a government scheme offering home loans of $600,000. The new batch of 6,000 low-interest loans, with interest rates of up to 3.5 per cent, went on offer this month. The Housing Society, which is administering the scheme, said it was too early to comment on the response.

13 Jun 1999 - 12:00am

More rate-cut medicine can be taken if needed

The latest prime rate cut of a quarter of a percentage point is by no means the last. There is room to cut more if the Hong Kong economy does not pick up.

The first thing worth noting is that banks have restored their normal operating margins on lending activity.

12 Apr 1999 - 12:00am

Debt provisions take wind out of JCG, Winton sails

Deposit-taking JCG Holdings and its principal subsidiary Winton Holdings (Bermuda) saw poor results in the year to December 31, hit by provisions for bad and doubtful debts.

Attributable profit for JCG tumbled almost 39 per cent to $254.33 million whereas Winton plunged to a $154.12 million attributable loss from a $50.19 million profit in 1997.

25 Jan 1999 - 12:00am

Glimmer of light

LOOKING for a bottom to the Hong Kong property market has been one of the holy grails of the past year. But the reaction of buyers of flats on offer at Tsing Yi yesterday indicates that purchasers are ready to go back into the market under the right conditions.

10 Jan 1999 - 12:00am

SHKP cuts prices after Tung speech

Sun Hung Kai Properties (SHKP) became the first developer to announce effective price cuts directly after the chief executive concluded his policy speech, paving the way for a spate of further cuts by rival developers.

8 Oct 1998 - 12:00am

SHKP offers mortgage incentive

Sun Hung Kai Properties (SHKP) will provide up to 25 per cent top-up mortgages as an extra sweetener to boost sales of remaining flats in its Castello project in Sha Tin. The company said the first 100 buyers would be able to secure the extra loans without the need to pay any premium on the flat price.

19 Sep 1998 - 12:00am

Seize the day

The Government's move to scrap further anti-speculation measures in the property market is a sensible move even if it is unlikely to spark off an immediate enthusiastic buying spree.

14 Sep 1998 - 12:00am

Tung sorry for buyers

THE Chief Executive sympathises with property buyers who have not secured mortgages because of the property slump.

Tung Chee-hwa, however, said the Home Starter Loan Scheme was not set up to help them, but to aid eligible families buying their first flats.

19 Jul 1998 - 12:00am

Mortgage Corp eyes $13b on new scheme

The Hong Kong Mortgage Corp will purchase up to a maximum of $13 billion of residential mortgages in the next 12 months through its forward commitment-purchase facility.

The corporation expects the new facility to provide banks with greater certainty on the amount of loans they can sell to the body as well as help them to plan new lending businesses more effectively.

19 Jun 1998 - 12:00am

HK Bank sees sharp drop in mortgage lending business

Hongkong Bank general manager Chris Langley said yesterday the bank's mortgage lending business had slowed significantly since the beginning of this year.

22 May 1998 - 12:00am

Dong-Jun residential units snapped up in two hours

The 300-unit first phase of Guangzhou property developer Dong-Jun's (Holdings) 1,600-unit Excelsior Towers residential project was fully subscribed in only two hours of pre-sale registration yesterday.

The company said it was considering the immediate release of more units for sale.

15 May 1998 - 12:00am

Chongqing lifts housing

Sichuan's commercial capital intends to start building 10 million square metres of residential houses this year in a bid to build property into a growth sector.

Chongqing would complete construction of 5.8 million sq m of housing this year, Xinhua reported.

The scheme would increase per-capita housing space to nine sq m.

13 May 1998 - 12:00am