Hi guys, would appreciate your wisdom here:
Im a non-PR person in Hong Kong, earning around 500,000 a year. I have around 18 months until residency.
Basically I have decent savings (mainly invested in low cost tracker funds here and at home back in the UK - which, I don’t want to cash out), but I would like to buy a house back in my hometown in the north east of England, which is under £100,000. - expat mortgages via HSBC don’t seem to want to loan less than 1,000,000 HKD/£100k
Ideally I’d like to take out a loan for 500-600k (HKD), but pay it back over 3-5 years. I know that some banks only give you a loan term according to the time left on your visa (for me this would be two more years). Are tax loans the same? I saw the DBS tax loan mentioned here, is that a max term of 24 months for non-PR?
Any advice on my best options? Otherwise I’ll keep saving as much as I can, maybe better to wait for PR if indeed that’s when better loan options become available.
Thoughts and advice much appreciated.