Topic
Established in 1997, the Hong Kong Mortgage Corporation Ltd, is wholly owned by the Hong Kong Special Administrative Region (HKSAR) Government through the Exchange Fund. Its mandate is to enhance banking stability through offering a reliable source of liquidity, promoting wider home ownership in Hong Kong and helping with the development of Hong Kong’s debt securities market, including mortgage-backed securities.
- Two weeks ago, Financial Secretary Paul Chan Mo-po told the city’s legislature that the government would consider “marginally relaxing” the loan-to-value ratio
- Homes of up to HK$15 million for the owners’ own use can get up to 70 per cent mortgage financing
Home prices in Hong Kong fell last year by the most since the Asian financial crisis, as pandemic curbs combined with rising interest rates stopped the housing bull market in its tracks after a 13-year run.
Cash rebates, limited-edition Octopus cards and a Tesla are being offered to customers to boost new home sales and loans after the Covid-19 pandemic led to a slowdown in property activity in the first quarter.
The policy would make larger abodes more affordable to first-time buyers, helping to remove so-called nano flats as the sole property type within their financial reach.
Elderly Hongkongers should consider the government’s reverse mortgage programme to secure fixed and stable incomes during the city’s worst recession on record and rising unemployment, industry observers said.
Twenty used homes changed hands at 10 housing estates in the city over the weekend after the government eased mortgage limits, according to data by Centaline, a six-month high.
The government-backed Hong Kong Mortgage Corporation will relax the ceiling on mortgage financing schemes for first-home buyers.
Hong Kong Mortgage Corporation will allow pensioners to lease property against which they have taken out reverse mortgage loans, a move that could make it easier for them to move to the “Greater Bay Area”.
The government-owned agency said new figures show people are using its mortgage insurance scheme to buy flats worth under HK$4 million
Banks in Hong Kong are casting a wary eye over the Hong Kong Mortgage Corporation's (HKMC) plans to develop products that go beyond its mortgage-insurance-focused business.
The Hong Kong Mortgage Corporation may further tighten eligibility for its payment protection insurance on home loans, in light of rising interest rates.