Everything You Need To Know About Bank of China (BOC) Mortgage

BOC provides valuation services, offering P plan or H plan. MoneySmart helps you to compare, choose and apply for the best mortgage.

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BOC Property Valuation

Most of the banks including Bank of China use a third-party valuation service. Moreover, BOC provides online property valuation services so mortgage applicants are able to know the property valuation instantly. However, it doesn’t apply to all properties and the online valuation service is more conservative, which is for reference only. It is more reliable to quote from more than a bank.

MoneySmart works with many major mortgage lenders in Hong Kong and we help you get a different valuation from a number of banks easily at the same time. You can also make use of our Property Valuation Calculator.

BOC P Plan Mortgage Rates

Refinance P PlanHK$1,000,000 or belowP(5.125%) - 2.75%= 2.375% 1.5%
HK$1,000,000-HK$2,000,000 P(5.125%) - 2.75%= 2.375% 1.5%
HK$2,000,000-HK$3,000,000 P(5.125%) - 2.75%= 2.375% 1.5%+500
HK$3,000,000-HK$5,000,000 P(5.125%) - 2.75%= 2.375% 1.5%+1000
HK$5,000,000 or above P(5.125%) - 2.75%= 2.375% 1.5%+1500

BOC H Plan Mortgage Rates

Refinance H Plan HK$1,000,000 or belowH+1.245 P(5.125%) - 2.65% = 2.475% 1.5%
HK$1,000,000-HK$2,000,000 H+1.240 P(5.125%) - 2.65% = 2.475% 1.5%
HK$2,000,000-HK$3,000,000 H+1.240 P(5.125%) - 2.75% = 2.375% 1.5%+500
HK$3,000,000-HK$5,000,000 H+1.235 P(5.125%) - 2.75% = 2.375% 1.5%+1000
HK$5,000,000 or above H+1.235 P(5.125%) - 2.75% = 2.375% 1.5%+1500

Can these properties get a mortgage?

Property types Y/N Remarks
Village houseMaybe House viewing required. Mortgage term: 25 years max.
Mainland properties N-

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Apply BOC Mortgage with MoneySmart

  • Step #1

    Contact the MoneySmart mortgage team

    You can contact our mortgage team though our website or send a message to our Whatsapps +852 9665 5218.

  • Step #2

    Compare BOC mortgage plans

    MoneySmart will follow up on your enquiry and provide you with a number of mortgage plans.

  • Step #3

    Apply online with required documents

    Fill in a consolidated application form from MoneySmart and apply for mortgages with different banks at the same time. 👍🏻

  • Step #4

    Check the application form and sign it

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

  • Step #5

    MoneySmart will remind ⏰you

    upon successful application and provide you with all the necessary suggestions and assistance, you may need until you have successfully got the mortgage.

BOC Mortgage FAQ

  • What documents are required when applying for BOC mortgage?

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

  • Does BOC provide mortgage for properties with building order?

    No. Bank of China does not provide a mortgage for any property with building order.

  • Can I apply for a mortgage without a fixed income?

    Yes. Applicants without a fixed income can also apply with the recent 6-month bank statement. Alternatively, applicants can apply through Asset Based Lending using properties, cash, stocks, bonds, etc as assets. However, only a certain percentage of the total assets will be calculated as income.

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

    Applying for BOC without a tax bill is likely to be rejected. Applicants are suggested to apply through Asset Based Lending (ABL) instead in this case.

  • Why get a mortgage through MoneySmart?

    Apply through MoneySmart to get up to 2.5% special interest rate and up to 1.5% cash rebate. Moreover, you can get multiple banks’ offers in 9 working days.