Best Citibank Mortgage Plan in Hong Kong

Citi is a leading global bank with approximately 200 million customer accounts and does business in 160+ countries and jurisdictions. Citi provides a broad range of financial products and services to consumers, corporations, governments and institutions, including consumer banking e.g. mortgages and credit, corporate and investment banking, etc.

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Apply for Citibank Mortgage via MoneySmart Now and earn up to 0.23% Cash Rebate!

Mortgage Plans

Citibank provides HIBOR Mortgages and Prime-Based Mortgages for clients to choose from. You can choose the plan that suits you the most and enjoy cash rebate at the same time.

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Citibank New Buy Mortgage Rate Plans

New Buy Mortgage PlanRateInterest Rate CapApplicable Property Types
Citibank 1 Month HIBORH+1.3%P(5.25%)-2.75%All property types apart from public housing and HOS Scheme
Citibank Prime RateP(5.25%)-2.75%5.25% Public Housing and HOS Scheme

Citibank Refinance Mortgage Rate Plans

Refinance Mortgage PlanRateInterest Rate CapApplicable Property Types
Citibank 1 Month HIBORH+1.5%P(5.25%)-2.75% All property types apart from public housing and HOS Scheme
Citibank Prime RateP(5.25%)-2.75%5.25%Public Housing and HOS Scheme

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Citibank Mortgage Plan: Advantages

Citibank provides tailor-made mortgage solutions with affordable interest rates with easy repayment options to meet your financial needs. Your property will be valued by Citi before Citi assesses your mortgage affordability and makes an offer to you. You can also enjoy cash rebate and fee waivers on the 1st year fire insurance fee and the valuation fee.

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Citibank 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.

Restrictions on Property Types
You may need to submit extra documentation for certain types of property and some are not even applicable to Citibank mortgage plans such as mainland properties, public housing, etc.

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Mortgage Term with Citibank

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

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Mortgage applications are affected by a number of factors:

Citibank will take property age into account when reviewing your mortgage applications. Citibank uses ‘75-property age’ when working out the maximum mortgage term. For example, if you would like to apply for a Citibank mortgage for a property aged 50 years, the maximum term is 75-50= 25.
Citibank 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 Citibank

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 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:


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 Citibank mortgage?

Property Type Y/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 HousingN-
Tong LauN-
Home Ownership Scheme HousingN-
Public HousingN-
Housing in Mainland ChinaN-

Paying for Citibank 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 Citibank Home Loan

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Apply for Citibank 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 Citibank mortgage plans

MoneySmart will follow up on your enquiry and provide you with different mortgage plans to choose from

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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Citibank Mortgage Plans FAQ

What documents are required when applying for Citibank mortgage?

To apply for Citibank 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.

Does Citibank impose any restriction on the property with building order?

Citibank 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 to apply for Citibank Mortgages. Applicants can also apply through Asset Based Lending.

Can I apply for a pre-approved mortgage?

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

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