Best Bank of China Mortgage Plan in Hong Kong

BOCHK has strong market positions in financial businesses with one of the most extensive branch networks and diverse service platforms in town, with more than 190 branches, 280 automated banking centres, 1,000+ self-service machines, and e-channels like Internet and Mobile Banking services. BOCHK is listed on the Main Board of the Stock Exchange of Hong Kong and it is one of the largest listed companies and commercial banking groups in Hong Kong, with stock code “2388”.

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Mortgage Plans

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"All-You-Want" Mortgage Scheme

With Bank of China s "All-You-Want" Mortgage Scheme, you can save your mortgage interest expenses and enjoy shorter repayment tenor by adjusting the monthly repayments based on your lifestyle and budget.

BOC New Buy Hibor Rate

Hibor Rate Plan HIBOR Plan RateInterest Rate CapApplicable Property Types
Bank Of China 1 Month HIBORH+1.3%P(5.0%)-2.5% All property types apart from public housing and HOS Scheme
Bank Of China Prime RateP(5.0%)-2.5%5.0%Public Housing and HOS Scheme

BOC Refinance Prime Rate Plan

Prime Rate PlanP Plan RateBest Lending Rate (=P)Applicable Property Types
Bank Of China 1 Month HIBORH+1.35%P(5.0%)-2.5% All property types apart from public housing and HOS Scheme
Bank Of China Prime RateP(5.0%)-2.5%5.0% Public Housing and HOS Scheme

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BOC Mortgage Plan: Advantages

BEA mortgage plans are characterized by its extended payment term and preferential mortgage rates, etc., which apply to both new mortgages, remortgages, etc.

Flexible Deposits with Interest Saving

You can enjoy a reduction in the outstanding net balance of the mortgage loan by placing deposits into your mortgage loan account with no early repayment penalty. Also, mortgage interest is calculated based on the daily outstanding net balance of your mortgage loan, which enables you to save on your interest expenses and enjoy a shorter repayment tenor.

Convenient Withdrawals
You can take out your deposits anytime from your account using BOC ATMs service or by cheques. You can also access our fund transfer service anytime anywhere via BOCHK Internet Banking or Phone Banking.

Waiver on Charges to Save More
You can enjoy handling charges and annual fee waiver to save more.

Exclusive Privileges
Enjoy fee waivers on instant property valuation, mortgage enquiries and the like. Also, enjoy premium discount on Fire Insurance and / or Home Insurance with BOC Credit Card throughout the entire mortgage period.

Simple Application Steps
Simply apply online, via +852 3669 3233 or in person to enjoy the privileges of BOC mortgages.

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BOC Mortgage Plan: Disadvantages

Penalty Period

Paying back some or all of your mortgage within the penalty period can be costly. Early repayment charges will apply.

Restrictions on Property Types

Certain types of property require extra documentation upon mortgage application and some are not applicable to BOC mortgage plans such as mainland properties, public housing, HOS and village houses.

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Mortgage Term with BOC

Property age, types of property and credit scores all affect BOC mortgage terms.

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Mortgage applications are affected by a number of factors:

BOC will take property age into account when reviewing your mortgage applications. BOC uses ‘75-property age’ when working out the maximum mortgage term. For example, if you would like to apply for a BOC mortgage for a property aged 50 years, the maximum term is 75-50= 25.
BOC will also consider the types of property you are applying for when approving your mortgage. For example, if you apply for a mortgage for a village house, it can be more complex as it usually takes a bank longer to carry out due diligence on the title, permitted uses, legality of construction, etc, before approving the loan applications.
Your credit score also plays a part in your mortgage application. If you have a good credit score, you will be likely to get a preferential rate. If not, your mortgage term, loan amount and interest rate will be negatively affected.

Property Valuation with BOC

Most of the banks do not have their own valuation department. They usually use the valuation service by a third party company like DTZ, CBRE, Savills, and Centaline Property Agency etc. to provide valuation services. HSBC only accepts valuation service from Debenham Thouard Zadelhoff (DTZ), therefore their valuation tends to be reserved.

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Online Valuation Service

Online Valuation Service doesn’t cover all properties in Hong Kong and the valuation tends to be more reserved. MoneySmart suggests considering valuation from a number of banks or using MoneySmart Property Valuation Calculator.

Property valuation is an important part of the entire mortgage application process. It does not only affect new purchases but also refinance mortgages. Various specific factors relating to the building will be looked at for example house prices of recent sales in the area, sales transactions, age, quality, unauthorised building works and building orders (if any). Certain property types such as Village houses, old buildings and single private residential buildings usually have a low number of sales transactions, resulting in a low mortgage valuation.

For properties with a lower than expected valuation, MoneySmart suggests:


Requesting banker to get valuations from few more companies. However they may refuse your request. Alternatively, you can apply through MoneySmart. We work with all major mortgage lenders. We can help you to compare, choose and apply for the best mortgage with a higher valuation.


For refinance mortgage, you can directly commission a company for property valuation and submit the valuation report to the bank directly. This approach suits under valuated properties like village houses and old buildings. It may double the valuation price. However, not all banks accept reports like this. It is best to check in advance.

Can these properties get a BOC mortgage?

Property TypeY/NNotes
Off Plan PropertyYLess than 6 Million: 80% LTV

6 -10 Million : 60% LTV or 5 Million (whichever is less)

10 Million or above: 50% LTV

First hand PropertyYLess than 10 Million: 80-90% LTV, depending on mortgage amount

10 Million or above: 50% LTV

Second hand Private HousingYLess than 10 Million: 80-90% LTV, depending on mortgage amount

10 Million or above: 50% LTV

Village HousingYLess than 10 Million: 85% LTV, depending on mortgage amount

10 Million or above: 50% LTV

Tong LauYLess than 10 Million: 85% LTV, depending on mortgage amount

10 Million or above: 50% LTV

Home Ownership Scheme HousingYPrime Rate Plans only.

Land Premium unpaid: loan amount up to 90% of property price (white form) or 95% (green form)

Land Premium paid: cases treated as 2nd hand private property

Maximum loan period: 25 years

Public HousingYPrime Rate Plans only.

Loan amount: Up to 100% of property price (non inclusive of deposit paid to Housing Authority)

Maximum loan period: 25 years

Housing in Mainland ChinaN-

Paying for BOC Mortgage

The repayment methods are similar among different banks but it's important to check the facility letter for early repayment terms. Usually, a penalty applies if you wish to repay the mortgage earlier.

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Can I apply for a mortgage only by rental income?

Yes. But not all rental income will be counted as monthly regular income. Please see below for details:

Percentage of rental income calculated as monthly regular income. 

  • Lease with stamping: 70% 
  • Lease without stamping: 60% 

For example: If the monthly income of the applicant is HK$20,000 and his/ her monthly rental income (lease with stamping provided). His monthly income will be HK$20,000 + HK$10,000 X 60%, which is HK$26,000.

Should you pay off your mortgage early?

Early mortgage repayment

There are two types of early mortgage repayment. The first one is to pay off the debt completely and the property will become yours. The second one is to pay back the capital to save on some interests. No matter which one you choose, you may be subject to early mortgage repayment fees. In recent years, some banks have shortened the penalty period to half a year or a year. If a borrower decides to repay the debt within the penalty period, a higher early mortgage repayment fees/ interest rates will be incurred. If it is beyond the penalty period, the fees will be a lot less. In the first year of the penalty period, the penalty is 1%+cash rebate and in the second year, the penalty is all cash rebate. MoneySmart suggests negotiating the best penalty period terms before accepting the mortgage plan.

How to apply for your BOC Home Loan

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Apply for BOC Mortgage via MoneySmart

Step 1

Get in touch with our mortgage team

Applicants can contact our professional mortgage team though our website WhatsApp +852 9665 5218

Step 2

Compare BOC mortgage plans

MoneySmart will follow up on your inquiry and provide different mortgage plans

Step 3

Apply online with required documents

Fill in a consolidated application form with MoneySmart to apply for a mortgage with different banks. 👍🏻

Step 4

Check the application form and sign it

The bank that you have applied for will contact you directly 📞to collect the necessary documents. Applicants can get in touch with the mortgage department directly for future inquiries.

Step 5

Draw down your mortgage

We will remind ⏰ you upon successful application and provide you with suggestions and assistance you may need until you have successfully got the mortgage.

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BOC Mortgage Plans FAQ

What documents are required when applying for BOC mortgage?

To apply for BOC mortgage, proof of identity, provisional agreement for sale and purchase (applicable to new purchase)/ recent 3-month repayment record, current mortgage repayment information, proof of residential address (applicable to refinance), recent 3-month salary record, bank statement and recent tax bill are required.

What is building order? Does BOC impose any restriction on the property with building order?

When a property is found to have unauthorized building works by the Housing Department, a building order will be issued, which demands the property owner to get it removed in a given time frame. BOC will not provide mortgages for properties with building order.

Can I apply for a mortgage without a fixed income? Can I apply with my asset instead?

In general, self-employed applicants are required to provide 6-month of bank statement as income proof. Applicants can also apply through Asset Based Lending using properties, cash, stocks, bonds, etc but not a certain

Can I apply for a BOC mortgage without a tax bill ?

BOC does not accept mortgage applications without a tax bill. Applicants can consider applying through Asset Based Lending (ABL) if he/ she has more assets.

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