| Maximum Loan Size
|
HK$5,000,000 or less |
Over HK$5,000,000 and up to HK$12,000,000 |
Maximum
Loan-To-Value Ratio ("LTV") |
95%
(may exceed 95% if premium is financed with mortgage loan) |
90% (for loan exceeding HK$8,000,000)
95% (for loan not exceeding HK$8,000,000)
(may exceed the relevant percentage if premium is financed with the mortgage loan) |
| Maximum Debt-To-Income Ratio ("DTI") (see note 1) |
50% (45% if LTV > 90% and loan tenor > 25 years) |
50% (45% if LTV > 90% and loan tenor > 25 years) |
|
Maximum Sum of "Original/ Remaining Term To Maturity" and "Age of Property"
|
40 years (may be up to 60 years subject to approval)
|
40 years (may be up to 60 years subject to approval) |
| Employment Type |
Self-employed persons are not eligible except for professionals such as doctors, certified public accountants, lawyers, or other professional categories acceptable to HKMC |
Non-regular salaried employed persons and self-employed persons are not eligible except for professionals such as doctors, certified public accountants, lawyers or other professional categories acceptable to HKMC |
| Owner Occupancy |
At least one of the income-generating mortgagor(s)/ borrower(s) must occupy the property as his/her primary residence.
The occupying borrower/ mortgagor's income must not be less than the monthly mortgage instalment payment and his/her other monthly debt obligations. |
At least one of the income-generating mortgagor(s)/ borrower(s) must occupy the property as his/her primary residence.
The occupying borrower/ mortgagor's income must not be less than the monthly mortgage instalment payment and his/her other monthly debt obligations. |
| PROPERTY TYPE |
Residential (excluding 'Ting', 'Tso', 'Tong' properties or small village houses in New Territories)
For property under construction (a) the development must be covered by the consent scheme and scheduled for completion within 12 months from drawdown date, and (b) the property must not be purchased from a confirmor in a sub-sale and purchase transaction. Further, the homebuyer must have paid all stamp duty before drawdown. |
Residential (excluding 'Ting', 'Tso', 'Tong' properties or small village houses in New Territories)
For property under construction (a) the development must be covered by the consent scheme and scheduled for completion within 12 months from drawdown date, and (b) the property must not be purchased from a confirmor in a sub-sale and purchase transaction. Further, the homebuyer must have paid all stamp duty before drawdown.
|