Disclaimer: At MoneySmart.hk, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.
Bank of East Asia provides immediate online property valuation services for mortgage applicants. However, this service doesn’t apply to all properties and it is only for reference and should not be considered conclusive. It is always more reliable to quote from more than one bank. However, this can be really time-consuming. To save time, mortgage applicants can consider applying for a mortgage through MoneySmart. The MoneySmart mortgage team works with a number of major mortgage lenders in Hong Kong and you can be assured to get more than one valuation service. You can also make use of our online Property Valuation Calculator to find out your property valuation.
|MORTGAGE LOAN SIZE||MORTGAGE RATE||CASH REBATE|
|HK$2,000,000 or above||P(5.375%) - 3%= 2.375%||2.05%|
|Below HK$2,000,000||P(5.375%) - 2.9%= 2.475%||1.80%|
|MORTGAGE LOAN SIZE||MORTGAGE RATE & CAPPED MORTGAGE RATE||CASH REBATE|
|HK$2,000,000 or above||H+1.24 & P(5.375%) - 3%= 2.375%||2.05%|
|Below HK$2,000,000||H+1.24 & P(5.375%) - 3%= 2.375||1.80%|
|New purchase of public housing without premium payment (green form applicants)||Maybe||Letter from Housing Authority required.|
|New purchase or refinance of HOS flats without premium payment||Maybe||Letter from Housing Authority required.|
|Village house||Maybe||House viewing and floor plan required.|
|Property with building orders||Maybe||On a case by case basis|
Mortgage applicants are required to submit proof of identity, recent 3-month salary record, bank statement and recent tax bill. For new purchase mortgage application, applicants are required to submit provisional agreement for sale and purchase. For refinance mortgage, recent repayment record, current mortgage repayment information and proof of residential address are required.
Bank of East Asia may provide mortgage for properties with building order. But it will be handled on a case by case basis.
Applicants without a fixed income can submit a mortgage application with the recent 6-month bank statement.
Applying for BEA without a tax bill is not likely to be accepted. Applicants may consider applying through Asset Based Lending (ABL) instead of in this case.
Apply through MoneySmart is easier and cheaper. You can get up to 2.5% special interest rate and up to 1.5% cash rebate. In just 9 working days, you can get multiple banks’ offers.