Best Chong Hing Bank Mortgage Plan in Hong Kong

Founded in HK in 1948, Chong Hing Bank Limited has been offering comprehensive commercial banking and financial services to customers. Chong Hing Bank has been listed on the main board of the Stock Exchange of Hong Kong (Stock code: 01111) since 1994. The Bank currently operates a network of 30+ branches in Hong Kong, providing services including HKD and foreign currency deposits, credit, foreign exchange, wealth management, etc.

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Mortgage Plans

Chong Hing Bank Mortgage offers a wide range of mortgage plans, including Residential Home Mortgage Loan Package, Sandwich Class Housing Scheme, Flat-For-Sale Scheme and Home-for-Home Loan for your varying needs.

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Chong Hing Bank New Buy Mortgage Rate Plans

New Buy PlanRateInterest Rate CapApplicable Property Types
Chong Hing Bank 1 Month HIBORH+1.5%P(5.25%)-2.6%All property types apart from public housing and HOS Scheme
Chong Hing Bank Prime RateP(5.25%)-2.6%5.25%Public Housing and HOS Scheme

Chong Hing Bank Refinance Prime Rate Plans

Refinance PlanRateBest Lending Rate (=P)Applicable Property Types
Chong Hing Bank 1 Month HIBORH+1.5%P(5.25%)-2.6%All property types apart from public housing and HOS Scheme
Chong Hing Bank Prime RateP(5.25%)-2.6%5.25%Public Housing and HOS Scheme

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Chong Hing Bank Mortgage Plan: Advantages

  • Chong Hing Bank Mortgage offers HIBOR Mortgage Plan and Prime-based Mortgage Plan. Applicants can borrow up to 60% of property value and earn competitive cash rebate, Moreover, the repayment term can be up to 30 years. Applicants can also enjoy a waiver of fire insurance premium for the second year, plus 30% discount to fire insurance and 20% discount to household insurance for the entire loan period.

Chong Hing Bank Mortgage Plan: AdvantagesChong Hing Bank Mortgage Plan: Advantages

Chong Hing Bank Mortgage Plan: Disadvantages

  • Penalty Period

    Paying back some or all of your mortgage within the penalty period will incur early repayment charges. For details, you can check your facility letter.

  • When the business of a smaller bank is at risk, the possibility of revoking the loan is higher than that of a large bank. Back in 2008, during the financial crisis , small banks once tightened their mortgages and revoked loans directly.

Chong Hing Bank Mortgage Plan: DisadvantagesChong Hing Bank Mortgage Plan: Disadvantages

Mortgage Term with Chong Hing Bank

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Property age, types of property and credit scores all affect Chong Hing Bank mortgage terms.

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Chong Hing Bank will take property age into account when reviewing your mortgage applications.
Chong Hing Bank will also consider the types of property you are applying for when approving your mortgage.
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 Chong Hing Bank

Most of the banks do not have their own valuation department. They usually use the valuation service by a third party company like DTZ, Savills and Centaline Property Agency etc. to provide valuation services.

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Chong Hing Bank Mortgage 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 purchase but also refinance mortgage. Numerous 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). 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:

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    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.

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    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 Chong Hing Bank?

Property TypeY/NRemarks
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: 80-90% LTV, depending on mortgage amount

10 Million or above: 50% LTV

Tong LauYLess than 10 Million: 80-90% 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

Paying for Chong Hing Bank 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 70%, which is HK$27,000.

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 Chong Hing Bank Home Loan

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Apply for Chong Hing Bank Mortgage via MoneySmart

  • Step 1Compare Chong Hing Bank mortgage plans

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

  • Step 2Compare Chong Hing Bank mortgage plans

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

  • Step 3Apply online with required documents

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

  • Step 4Check 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 5Draw 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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Chong Hing Bank Mortgage Plans FAQ

Does Chong Hing Bank impose any restriction on the property with building order?

Chong Hing Bank does not accept mortgage applications for properties with building order.

Can I apply for a mortgage if I am not on a fixed income? Can I apply with my asset instead?

Applicants can provide a 6-month of bank statement instead as income proof. Applicants can also apply through Asset Based Lending.

Why Get a Chong Hing Bank Mortgage through MoneySmart?

  • Best Mortgage Offers: Get SPECIAL interest rate offer from 2.5% and cash rebate up to 1.5%.
  • Speed Up the Mortgage Application: Get multiple banks’ offers in 9 working days by filling our Fast Form at the comfort of your home.