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Mortgage and flat buying question

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  1. #21

    Join Date
    Jan 2008
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    MORTGAGE

    No problem: After you enter a sale & purchase agreement, advise your bank and give them copy of S & P. Also advise them the solicitors who will be handling the sale for you. The Solicitors will collect the funds from the buyer, pay off the mortgage and give you the balance less their fees.

    asydgal likes this.

  2. #22

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    Aug 2010
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    thanks oldtimer!


  3. #23

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    Aug 2009
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    Are there general rules about the minimum leasehold period that you can get a mortgage for, given the general 2047 expiration of leases?


  4. #24

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    Quote Originally Posted by dossier:
    Are there general rules about the minimum leasehold period that you can get a mortgage for, given the general 2047 expiration of leases?
    Do you mean the length (tenor) of the mortgage?

    Normally, banks will give a maximum of 30 years based on your age and the age of the building. For older buildings and borrowers, the tenor may be less.

    For all intents and purposes, the general assumption is that nearly all land leases will be renewed.

  5. #25

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    No, i was referring to the remaining lease period of the property. In some countries, the mortgage provider won't give you a loan if the property is a leasehold property with a remaining lease less than a certain number of years


  6. #26

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    Quote Originally Posted by dossier:
    No, i was referring to the remaining lease period of the property. In some countries, the mortgage provider won't give you a loan if the property is a leasehold property with a remaining lease less than a certain number of years
    As the general assumption is that all land leases will be renewed (with the very rare exception), HK banks do not consider/care about the remaining lease period of the underlying land.

  7. #27

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    Any new updates for mortgage information for the year of 2012?


  8. #28

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    The headlines I have seen are that mortgage rates have been decreasing slightly. Property prices continue to fall but remain absurdly over-priced at the moment.


  9. #29

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    its true! the idiots down stairs told me they wanted 2.5 a few years ago (2 ) - they are now asking 3.8 !

    crazy! I'm not the only one to think so - its been vacant a year now!

    interested tho - are 90% mortgage still available? how about if I did it thru my business????


  10. #30

    Join Date
    Aug 2007
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    Quote Originally Posted by audiot:
    its true! the idiots down stairs told me they wanted 2.5 a few years ago (2 ) - they are now asking 3.8 !

    crazy! I'm not the only one to think so - its been vacant a year now!

    interested tho - are 90% mortgage still available? how about if I did it thru my business????
    A property loan for business purposes has a maximum loan to value of 50%.

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