Some banks offer 95% for example Standard Chartered
thanks for the link. now, i wonder if this first time home buyer package also applies to people like me who is on employment visa.
Stickboy - most banks will lend 95% of their own valuation. 70% is traditionally the standard, so for the extra 25% your application has to be approved by the HKMC and you'll pay a mortgage insurance premium for that extra 25%. That can be added to your mortgage so no extra initial outlay for you. I've talked to a lot of banks recently and the only one who didn't offer 95% mortgages was China Construction bank, they only went up to 90%.
Being here on a work visa makes no difference - banks will still lend to you if you have a HKID card and meet the normal eligibility requirements.
Working with the HKMC... If you are planning on getting over 70% mortgage. Sign with AT LEAST 2.5-3 months between signing the initial deposit and closing.
If working with a 70% mortgage, 1.5 months is usually enough.
Recently, I found that these banks are aggressively offering the best rate: HSBC (Real pain to work with though...), Bank of China, Wing Hang, and BEA. If you are cash rich then Standard Chartered, though you'll have to bank though them.
thanks guys, these tips are very helpful.