Pre-approved mortgage from Chartered
Article Abstract:
Standard Chartered Bank will offer Hong Kong's first pre-approved mortgage loan scheme from 1 July to 30 September. Successful applicants will be issued a certificate which will be valid for two months and give the applicants enough time to find the right home. It will also provide free property valuation and consultation service. The loan scheme is available only to first-time home buyers purchasing private property or to those who have joined the Home Starter Loan Scheme, Sandwich Class Loan Scheme, Home Ownership Scheme, Home Purchase Loan Scheme and Tenants Purchase Scheme. *
Comment:
Will offer Hong Kong's first pre-approved mortgage loan scheme from 7\1\98 to 9\30\98
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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Banks get more lending freedom
Article Abstract:
The Hong Kong Monetary Authority has lifted the 40% ceiling on mortgage lending. Banks can start their fiscal year with their residential mortgage loans exceeding 40% of their total loan portfolio. The new measure will allow banks to be more flexible in running their mortgage lending business. At the end of banks' fiscal year, they can sell some of their residential mortgage portfolio to the Hong Kong Mortgage Corp. This can avoid them from having too much exposure to the property market. *
Comment:
Hong K: Hong Kong Monetary Authority lifts 40% ceiling on mortgage lending
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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Call to scrap 70% loan ceiling
Article Abstract:
Executive Councillor Anthony Leung proposed to lift banks' mortgage ceiling of 70% of property value. However, the proposal was rejected by the Hong Kong Monetary Authority. Banks also disagreed with Mr. Leung's proposal. Standard Chartered Bank and Wing Hang Bank said the existing guidelines were appropriate as they saved banks from excessively exposing themselves to the risks of the property market. *
Comment:
Hong K: Exec Councillor Anthony Leung proposal to lift bank mortgage ceiling of 70% of property value rejected by Monetary Auth
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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