Mortgage Interest Rates

[Mr. No]

Thanks. I wonder what is the value of the property you are planning to buy? I ask because these rates are slightly lower than those given to me by the banks.

They might of course have changed since when I asked a month ago. I ended up borrowing at BEA for 2% (you forgot BEA in your list).

[drumbrake]

The deals you can get from banks are always changing, and will also depend on the value of the property and perhaps your relationship (or lack of relationship) with the bank as well as other factors. Sometimes not being an existing customer of a bank can get you a better deal as the bank see it as getting a 'new customer'. Smaller banks can sometimes provide very competitive rates.

[timklip]

we are financing less than 5M FWIW...

we went to BEA after talking to all of the listed banks, and their offers didn't match/beat the best offers at P- or HIBOR, so we didn't apply with them...

i asked specifically about HIBOR + at HSBC and was told by two sep. managers that they don't offer it yet but are considering in the future...

for sure drumbrake, banks that you haven't prev. done business with may offer incentives to bring you on board...Stan Chart did just that...

as I said, this list is simply the banks' initial offers to us; your results may vary and negotiation is up to you to do better (we certainly expect to)

[UK/HKboy]

you also have to borrow alot... most banks wont even bother with you if you borrow less than HK$1m.

[Mr. No]

we went to BEA after talking to all of the listed banks, and their offers didn't match/beat the best offers at P- or HIBOR, so we didn't apply with them...

Indeed. BEA has recently raised the interest rate to 2.2, so your other banks are more competitive.