Like Tree30Likes

Will the + increase in mortgages?

Closed Thread
Page 2 of 4 FirstFirst 1 2 3 4 LastLast
  1. #11

    Join Date
    May 2017
    Posts
    150

    Got a mortgage from HSBC early last month. H+1.23% with 1.6% rebate and the banker handling my case managed to squeeze out more than what I was able to borrow from other banks. Truth is, it's best you go ask all the banks what they can offer then negotiate further for any benefits. I believe that they do offer slightly different packages depending on the applicant.


  2. #12
    Quote Originally Posted by quantzie:
    Got a mortgage from HSBC early last month. H+1.23% with 1.6% rebate and the banker handling my case managed to squeeze out more than what I was able to borrow from other banks. Truth is, it's best you go ask all the banks what they can offer then negotiate further for any benefits. I believe that they do offer slightly different packages depending on the applicant.
    nice one, whats the loan size?

  3. #13

    Join Date
    May 2017
    Posts
    150
    Quote Originally Posted by aussie_oi_oi_oi:
    nice one, whats the loan size?
    Not much. Just 3mil

  4. #14
    Quote Originally Posted by quantzie:
    Not much. Just 3mil
    you did much better than me with a smaller size guess i didnt push hard enough

    did you have a HIBOR linked deposit account too?

  5. #15

    Join Date
    May 2017
    Posts
    150
    Quote Originally Posted by aussie_oi_oi_oi:
    you did much better than me with a smaller size guess i didnt push hard enough

    did you have a HIBOR linked deposit account too?
    Yep. It was mandatory for me to have it since I borrowed more than I needed. The extra funds will sit there until I need it for renovations. They offered 6 months off home insurance too

  6. #16

    Join Date
    Mar 2008
    Posts
    992
    Quote Originally Posted by quantzie:
    Got a mortgage from HSBC early last month. H+1.23% with 1.6% rebate and the banker handling my case managed to squeeze out more than what I was able to borrow from other banks. Truth is, it's best you go ask all the banks what they can offer then negotiate further for any benefits. I believe that they do offer slightly different packages depending on the applicant.
    Thats pretty good. The best deal I managed last week was H +1.3, 2,15 cap mortgage link, 1.6% rebate, free 1yr insurance.

  7. #17

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,317
    Quote Originally Posted by big_panda:
    Thats pretty good. The best deal I managed last week was H +1.3, 2,15 cap mortgage link, 1.6% rebate, free 1yr insurance.
    Technically the "cap" is a P minus factor. Hence when rates go up, I believe P shall follow by .25-.50 increments. Hence your cap is not truly 2.15.
    jrkob likes this.

  8. #18

    Join Date
    Mar 2008
    Posts
    992
    Quote Originally Posted by MandM!:
    Technically the "cap" is a P minus factor. Hence when rates go up, I believe P shall follow by .25-.50 increments. Hence your cap is not truly 2.15.
    "cap" I was using a short term to summarise. I realise the P floats and is not a hard cap.

  9. #19

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,317
    Original Post Deleted
    Of course there are some people who says property is going to drop. Hk is quite stable in my mind and even if it drops I don't see how it matters if you live in your house. Otherwise you are wasting rent money every month. Your rent goes up every year, you get kicked out and have the hassle of moving, and usually rental flat conditions are not that great. If you own it you can decorate it however you want and the quality is likely to be much better since you are either likely going to pick out a nice one or do a full renovation. You usually wouldn't renovate a rental due to you can never recover those costs.

    On top of that there is the principal gained every month and the 100k tax deduction on your taxes. Provided your interest was 100k or more which is usually the case.

    For me, I see property as a necessity to retirement and it is a 30 year bet. Otherwise you wake up one day, 70 years old with w mortgage or having to pay rent every month. If you don't like Hk at that point, rent it out and you have extra income or liquidate and have a lump sum.

    Inflation will occur. So I don't believe in the waiting game. Get in the game asap. I've been priced out of many places because I waited.

  10. #20

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,317

    100k interest tax deduction is on 100k interest. Yes a lot but easily attainable on loans over 5m ish.