I am looking into buying a property to live in.
Those old 'stand-alone' buildings are in my budget.
I am able to pay off 40% of down payment, so I need other 60% in mortgage.
I found a house I like, and the building is 54 years old.
Unfortunately, I just realized that banks put a cap on tenor (repayment) years based on building age.
HSBC: 70-building age = 16 years (2.5% pa)
Bank of Communications = 75-building age = 21 years (2.35% pa)
CITIC: 80-Building age = 26 years (2.5% pa)
As I just started working, I hope to do 30 years mortgage (might pay off earlier later or so).
Does anyone know any banks that may provide a 30-year mortgage on 54-year-old property?