How does a bank in HK see your mortgages or other loans?

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  1. #1

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    How does a bank in HK see your mortgages or other loans?

    I just got my hk credit report from Transunion, and it doesn't even have my mortgage in there. When I asked the lady why, she said it only shows up if I'm late for a payment and then reported. Well, this is odd. So how do banks verify people's debt? how would they know if I have any mortgage if it's not even shown on my credit report?! Or do they have access to different credit reports?
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  2. #2

    Join Date
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    I guess banks/lenders are only interested in whether you've defaulted. If you've not defaulted on any credit agreement then you're a safe bet , no?


  3. #3

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    Surely, creditors must be more interested than that like debt/income ratios, but how do they know what mortgage debt you have if you never tell them and you've never defaulted? The credit report from Transunion doesn't even reveal I have an existing mortgage!?! I'd assume that should be vital data to any creditor in evaluating what you owe! And the report doesn't even have a numeric grade like a FICO score. Whole report seems unbelievably uniformative to me. So is only Transunion like this, or are there other credit reporting agencies in hk? anyone have an idea? How can someone detect identity theft if he can't even see what financial debt is under his name on his own credit report?!?
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    Last edited by zymu; 07-02-2010 at 07:40 AM.

  4. #4

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    Positive information is generally not reported to credit agencies in HK (unlike the US) as banks do not want info about their best customers leaking out.


  5. #5

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    When I got my HK mortgage, I had to write a declaration that I did not have any debt or liabilities oveerseas. But they would never be able to prove if I did or not.


  6. #6

    Join Date
    Dec 2003
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    Generally speaking I hate credit reports and the credit bureau system and I am glad they are so sparse in HK.

    Last edited by ohchk2001; 09-02-2010 at 11:57 PM.