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Mortgage Loans with HK banks for Overseas Properties

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  1. #1

    Join Date
    Jul 2014
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    10

    Mortgage Loans with HK banks for Overseas Properties

    Hi everyone,

    Just wondering if banks in HK (i.e. HSBC, BOC) would give me a home loan for a property I'm seeking to invest in Australia?

    I have dual citizenship in both HK and Oz.

    Sorry, may be a stupid question, no idea about these kinda things.

    Many thanks.




    Regards,
    lucky86


  2. #2

    Join Date
    Feb 2009
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    8,280

    NAB Hong Kong offer this. I called them a few days ago to enquire about it. You can borrow HKD for Australian property and interest rate is 2.67%. They also offer AUD at 3.99% and USD but can't remember the rate, I wrote it down on a piece of paper in my office

    lucky86 likes this.

  3. #3

    Join Date
    Jul 2014
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    Great stuff, thanks for the reply.

    Any idea why they would offer two different rate for two different currency?


  4. #4

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    Feb 2009
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    Their rates are cost of funds + 1.6%. Their costs are lower for HKD, it is not exactly linked to HIBOR but something similar to it. The rates are very volatile as well, possible to change daily. The rates above are as per last week.


  5. #5

    Since NAB HK unit was sold to OCBC wing hang, do you know if any other banks offer this product.

    I spoke to HSBC and was given the run around - in the end, someone from the Expat department called me back and said the "overseas mortgage" I will be able to get would be no different to getting one from an Australian branch, i.e. all the rates & fees will be australian local. Surely this is not the case.


  6. #6

    Join Date
    Mar 2007
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    If anyone has done this (HSBC mortgage arranged from Hong Kong) recently for UK property, could you please drop me a note. I'd like to ask a couple of basic questions.


  7. #7

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    Also interested to know about this!


  8. #8

    Join Date
    May 2006
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    457

    Cross border mortgages is very messy business so banks have gotten out of it unless you are a Private Banking customer.

    Citibank claims to have it, but it may be the same approach as HSBC.

    Australian banks could probably figure out a way to offer but given NAB and ANZ have closed up shop in HK I doubt anyone is offering.

    Flytodasky likes this.

  9. #9

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    Mar 2018
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    I currently hold a mortgage with OCBC WH for my investment property in Sydney, you will have to get in touch with elite gold banking center at their Central branch as this was their acquired NAB business from last year. The alternative is to get in touch with the HSBC expat center at their central branch, they will refer you to a local branch in Australia - it's all hands off after they put you in touch with HSBC Australia. I would suggest you to go direct to a HSBC RM (if you already have an account there).


  10. #10

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    Quote Originally Posted by 2139467:
    I currently hold a mortgage with OCBC WH for my investment property in Sydney, you will have to get in touch with elite gold banking center at their Central branch as this was their acquired NAB business from last year. The alternative is to get in touch with the HSBC expat center at their central branch, they will refer you to a local branch in Australia - it's all hands off after they put you in touch with HSBC Australia. I would suggest you to go direct to a HSBC RM (if you already have an account there).
    How did you find the OCBC experience in terms of LTV ratio and competitiveness of interest rate offered?