• Sat
  • Dec 27, 2014
  • Updated: 5:21pm

Mortgage

Hong Kong banks to undergo mortgage loan checks

Banks have increased their interest rates for residential loans in view of the capital requirement on new mortgages. Photo: Reuters

Banks may face a higher capital requirement as the city's de facto central bank will step up its review of their capital adequacy levels. Starting with their mortgage portfolios, the Hong Kong Monetary Authority would look at the robustness of the banks' entire loan portfolios, deputy chief executive Arthur Yuen Kwok-hang said.

Wednesday, 20 March, 2013, 5:23am

Second-hand home transactions hit historic lows

Hong Kong Ferry's Green Code project in Fanling has sold 350 units since it was launched last week. Photo: Nora Tam

Home sales in the secondary market have plunged to historical lows, hit by increased mortgage rates and developers' competitive pricing strategies on new developments that have lured home seekers away from the second-hand housing sector.

20 Mar 2013 - 8:42am

Q & A with our experts, March 20, 2013

Patrick Chow

Q:I have saved about HK$500,000. I want to use it for the down payment for a mortgage on my first home. Where can I find properties priced slightly over HK$2 million? What are the options?

20 Mar 2013 - 5:22am

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

Sellers cut asking prices on homes as banks raise mortgage rates

Victor Lui says the rate rise will have little impact. Photo: Dickson Lee

From today, HSBC's best lending rate for new home loans will rise to 2.85 to 3.15 per cent, from 2.6 to 2.9 per cent. Standard Chartered has also raised rates from today.

14 Mar 2013 - 7:47am

Hong Kong's new homebuyers hit by rise in interest rates

Advertisements outside a property agency in Quarry Bay. People are less confident about buying than earlier in the year, a survey shows. Photo: Dickson Lee

Centaline Property Agency said last night that some owners had immediately slashed their asking prices. A 922 sq ft flat in Taikoo Shing was on offer for HK$13 million, a reduction of 7 per cent. Other owners dropped their prices by up to 10 per cent.

14 Mar 2013 - 2:13pm

Rebound in Canadian housing starts last month beats forecast

Canada's Finance Minister Jim Flaherty. Photo: Reuters

Canadian housing starts rose more than expected in February after falling to their lowest since the end of the 2009 recession. The annual pace of work increased to 180,719 units from a revised 158,998 in January, Canada Mortgage and Housing Corporation said.

13 Mar 2013 - 5:06am

Q & A with our experts, March 6, 2013

Louis Chan

Q: My employer pays me a monthly rental allowance of over HK$10,000 and I am entitled to this for two more years. I have been using it to rent an apartment, but as property prices keep climbing, I am thinking about buying. Should I give up the rental allowance now or wait till later?

6 Mar 2013 - 4:49am

Beijing creates a generation of housing slaves

A 1,076 sq ft flat on the mainland today costs about 40 years' income, data shows. Photo: Bloomberg

Mainland media have dubbed a generation of middle class "fang nu", or housing slaves, a reference to the lifetime of work they needed to pay off their debts. They are taking on mortgages even as Beijing maintains property curbs to damp prices that have almost tripled since the mainland embarked in 1998 on a drive to increase private home ownership.

27 Feb 2013 - 5:04am

Homebuyers may face tougher mortgage stress test

Homebuyers could face a tougher stress test on interest rates. Photo: AFP

Miranda Kwok, the chief executive and president of China Construction Bank (Asia) in Hong Kong, said a tougher stress test would be an option for the regulators if the government got worried about the long-term ability of homebuyers to make their mortgage payments as property prices kept rising.

20 Feb 2013 - 3:36am

Swiss banks told to rein in lending or face restrictions as bubble fears grow

The Swiss National Bank has imposed higher capital buffers on the nation's banks. Photo: Bloomberg

Switzerland's government, at the urging of the Swiss National Bank, last week ordered banks to hold additional capital as a buffer against risks posed by the country's biggest property boom in two decades. The amount, set at 1 per cent of banks' risk-weighted assets tied to domestic residential mortgages, can be increased to as high as 2.5 per cent.

20 Feb 2013 - 4:40am

Increased interest from buyers pushes British home prices to 5-year high

British home sellers raised asking prices to a five-year high. Photo: Bloomberg

Prices sought rose 2.8 per cent from January to £235,741 (HK$2.82 million), property listing giant Rightmove said in a report published this week. They increased 1.1 per cent from a year earlier. In London, prices gained 1.2 per cent, the smallest increase for a February in four years.

20 Feb 2013 - 4:40am

Mainland property cooling measures possible if home prices rise

In Shanghai, the average price of a flat stood at 27,655 yuan per square metre last month. Photo: Bloomberg

Data from the China Index Academy shows that the average price of a new home in 100 major cities recorded an eighth successive month-on-month rise in January, to 9,812 yuan (HK$12,190) per square metre, up 0.03 per cent from December.

18 Feb 2013 - 2:25pm

Standard & Poor's looks secure despite US government lawsuit

Standard & Poor's faces a US$5 billion charge for allegedly deliberately understating the risk of bonds backed by mortgages. Photo: Reuters

The Department of Justice accuses McGraw-Hill and its subsidiary Standard & Poor's of deliberately understating the risk of bonds backed by mortgages made to the riskiest borrowers, in order to win business from Wall Street banks.

7 Feb 2013 - 5:16am

Bank of England's lending scheme fuels rise in Britain's house prices

Bank of England's Funding for Lending Scheme eased conditions in the home-loan market. Photo: Reuters

Data showed mortgage approvals rose to an 11-month high in December as the central bank's Funding for Lending Scheme eased conditions in the home-loan market. The bank is counting on the programme to encourage lending and provide a boost to an economy that is close to slipping back into a recession.

6 Feb 2013 - 4:59am