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Mortgage and flat buying question

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  1. #31

    Join Date
    Aug 2009
    Posts
    1,670
    Quote Originally Posted by lionrock88:
    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.
    Great - so in HK you could still get a 30 year mortgage on a property with only, say, 20 years left on the lease remaining?

  2. #32

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,372

    The banks have different tests.

    70 - your age = maximum loan term
    70 - your buildings age = maximum loan term (exception for mei foo and tai koo)

    No real rule on the lease remaining term, but who knows in the future what will happen. I'm sure from a risk perspective, they will want some clarity from the government on the lease renewal procedure. Likely to be a fee or increase in rates.


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