Ricacorp Properties is to collect information among home owners in negative equity to help them fight for better mortgage terms with banks.
The move is part of the property agent's plan to expand its operation by generating more mortgage referral business amid property market downturn.
A wholly owned subsidiary, Ricacorp Mortgage Agency (RMA), today will offer a hotline service to gather feedback from owners.
Ricacorp Properties managing director Barry Law Lam-wei believes owners could strengthen their bargaining power with banks if they joined forces to seek more preferential terms.
He said RMA could help these owners as it had established business relationship with more than 30 banks.
The proposal could help owners with a stable income to seek better terms such as lower interest rates or to extend their repayment period.
