BOC provides valuation services, offering P plan or H plan. MoneySmart helps you to compare, choose and apply for the best mortgage.
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 MORTGAGE PLANS||MORTGAGE LOAN SIZE||MORTGAGE RATE||CASH REBATE|
|Refinance P Plan||HK$1,000,000 or below||P(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 MORTGAGE PLANS||MORTGAGE LOAN SIZE||MORTGAGE RATE||CAPPED MORTGAGE RATE||CASH REBATE|
|Refinance H Plan||HK$1,000,000 or below||H+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|
|Village house||Maybe||House viewing required. Mortgage term: 25 years max.|
You can contact our mortgage team though our website or send a message to our Whatsapps +852 9665 5218.
MoneySmart will follow up on your enquiry and provide you with a number of mortgage plans.
Fill in a consolidated application form from MoneySmart and apply for mortgages with different banks at the same time. 👍🏻
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.
upon successful application and provide you with all the necessary suggestions and assistance, you may need until you have successfully got the 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.
No. Bank of China does not provide a mortgage for any property with building order.
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.
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.
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.