Mui Wo and Living in the Country

[HKNewBi]

Seems a good price for a flat. The commute to work isn't so bad as the ferry is comfortable, reliable(!) and gives a nice 30 mins each day for some admin, reading, studying - or just relaxing!

The commute back is more of a pain - especially if you head out at night. Of course it is possible to cab to Tung Chung and then Lantau cab to Mui Wo but costs about $400 for the whole trip - and takes around 45mins to 1 hour. Be sure to book your Lantau taxi while you are in your HK taxi, as there are probably no taxis at the Tung Chung rank late at night (or early morning!).

[HKNewBi]

We just bought a flat in Mui Wo. It's a 2 bedroom, 700 sq ft place with the roof, all for HK$1.275M. Not bad.
Getting a mortgage was very easy, in fact, we had two banks competing for our business.
Lawyer was very nice, charging us "only" HK$5700.
So we're moving to the country. Goodbye highrise. Goodbye noise. Goodbye pollution.
Hello beach life.

Do you mind telling me which banks? I was looking for lenders last October and 14 turned me down due to being on the island.

Thanks

[Loz_2]

Do you mind telling me which banks? I was looking for lenders last October and 14 turned me down due to being on the island.

Thanks

Hello HKNewBi,
I am in the process of applying for a mortgage too and was wondering if you could clarify a little on why the 14 lenders turned you down "due to being on the island"?

I think i have my financials in order (10% deposit, stable income touchwood etc) for a 4 million dollar apartment in Tseung Kwan O. If you or others could share you experiences on difficulty/ease of getting loan approval that would be great.

Loz

[London2HK]

I went to Mui wo today and I really liked it! Its got a really nice feeling to it, relaxed & happy. I went there after going to Peng Chau first and although their water looked nicer ( so clear and blue) and also quite relaxed I prefered Mui wo but its too far from where I work ((

[HKNewBi]

Hello HKNewBi,
I am in the process of applying for a mortgage too and was wondering if you could clarify a little on why the 14 lenders turned you down "due to being on the island"?

I think i have my financials in order (10% deposit, stable income touchwood etc) for a 4 million dollar apartment in Tseung Kwan O. If you or others could share you experiences on difficulty/ease of getting loan approval that would be great.

Loz

I am referring to Lantau Island and buying a village house. This was last October during the infamous credit crunch. I spoke to a number of banks and finance companies and only found one lender, but was VERY expensive.

I spoke with the Bank of China manager of the Cheung Chau branch and he told me the BoC was not offering village house mortgages and had withdrawn the product indefinately. I don't know if that is still the case.

[siu_man_wong]

Hi:

I am thinking moving to Lantau, Cheung Sha or Pui O or Mui Wo. I wonder is there any parking near Mui Wo ferry.

Of course, I will be south Lantau resident.

Thanks

[PDLM]

Yes there is (the open air parking area down the end past the China Bear). Not sure what the charges are. My impression on walking past is that it isn't generally full.

I think most people in Cheung Sha or Pui O would catch one of the fairly frequent buses though.

[HKNewBi]

There is a pay car park opposite the ferry pier -$6 per hour or $1000 for a monthly pass.

The car park PDLM is referring to is free of charge but usually difficult to find spaces. Usually dependent on how busy the Police have been ticketing the rest of Mui Wo.

You can park all around the ferry for free but expect to pick up a ticket about once every 2 - 6 months from the Police. They usually put warning notices on cars prior to ticketing after which every one tries to cram into the free car park.

[siu_man_wong]

>You can park all around the ferry for free but expect to pick up a >ticket about once every 2 - 6 months from the Police. They usually >put warning notices on cars prior to ticketing after which every one >tries to cram into the free car park.

Do you mean, if I park frequently near the ferry or like every day chances are I will get a ticket every 2-6 month.
If so, the odd is not that bad.
Sorry to ask, how much is a parking ticket in Lantau. I am in US now and plan to move back to Hong Kong. Lantau is one of my choice .

Thanks

Siu Man Wong

[muiwo]

I am referring to Lantau Island and buying a village house. This was last October during the infamous credit crunch. I spoke to a number of banks and finance companies and only found one lender, but was VERY expensive.

I spoke with the Bank of China manager of the Cheung Chau branch and he told me the BoC was not offering village house mortgages and had withdrawn the product indefinately. I don't know if that is still the case.

I think that mortgages are easier to get now, but I'm not certain how long this will last. Wing Hang Bank offers village house mortgages for about 2.75% - much higher than urban, but still low overall. HSBC is probably less enthusiastic.
As for living in Mui Wo, there are some drawbacks. While it is relaxed and rural, the relative isolation makes it all a bit claustrophobic at times. You tend to focus on the unemployed drunks, mostly from the UK, the tattooed triads, and the rough Filipinas.
I guess any village has it's cast of characters.