Best Wing Lung Bank Mortgage Plan in Hong Kong

Founded in 1933, CMB Wing Lung Bank (formerly known as Wing Lung Bank), is one of local banks in Hong Kong with the longest heritage. With the motto of “Progress with prudence, service with sincerity”, the Bank provides one-stop banking services, including deposits, loans, private banking and wealth management, etc. Currently, the Bank has 41 banking business outlets and CMB Wing Lung Private Banking Centre in mainland China, Hong Kong, Macau and overseas, etc.

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Apply for Wing Lung Bank Mortgage via MoneySmart Now and earnup to 0.23% Cash Rebate!

Mortgage Plans

Why you should consider this provider? There are a wide range of mortgage plans by Wing Lung Bank including: General Home Mortgage, Preferential Mortgage Plan, Fixed-Rate Mortgage Pilot Scheme, Government Subsidized Scheme, Non-residential Property Mortgage, Reverse Mortgage. No matter if you are a first-time home buyer or refinancing, Wing Lung Bank can give you advice and tailor-make the most suitable package for your needs.

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Wing Lung Bank New Buy Mortgage Rate Plans

New Buy PlanRateInterest Rate CapApplicable Property Types
Wing Lung Bank 1 Month HIBORH+1.5%P(5.0%)-2.75%All property types apart from public housing and HOS Scheme
Wing Lung Bank Prime RateP(5.0%)-2.75%5.0%Public Housing and HOS Scheme

Wing Lung Bank Mortgage Rate Plans

Refinance PlanRateInterest Rate CapApplicable Property Types
Wing Lung Bank 1 Month HIBORH+1.5%P(5.0%)-2.75%All property types apart from public housing and HOS Scheme
Wing Lung Bank Prime RateP(5.0%)-2.75%5.0%Public Housing and HOS Scheme

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Wing Lung Bank Mortgage Plan: Advantages

  • The wide range of Wing Lung Bank mortgage plans are characterized by the following features:

    • You can borrowing up to 90% of the property value
    • Enjoy preferential interest rates
    • Enjoy prolonged repayment term up to 30 years
    • Enjoy flexible repayment methods including monthly and fortnightly repayment schemes to save on interest
    • Enjoy valuation fee and application fee waiver
    • Enjoy preferential terms on other loan facilities

Wing Lung Bank Mortgage Plan: AdvantagesWing Lung Bank Mortgage Plan: Advantages

Wing Lung Bank Mortgage Plan: Disadvantages

  • Penalty Period

    Paying back some or all of your mortgage within the penalty period will incur early repayment charges. The penalty period of Wing Lung is 3 years- which is relatively longer compared to other banks. 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 Wing Lung Bank mortgage plans such as mainland properties, public housing, etc.

Wing Lung Bank Mortgage Plan: DisadvantagesWing Lung Bank Mortgage Plan: Disadvantages

Mortgage Term with Wing Lung Bank

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Property age, types of property and credit scores all affect BOC mortgage terms:

Wing Lung will take property age into account when reviewing your mortgage applications.
Wing Lung 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 Wing Lung 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, CBRE, Savills, Centaline Property Agency and Lei Shing Hong Limited, 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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Wing Lung Bank 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 purchases but also refinance mortgages. Various 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). Certain property types such as 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:

  • 1

    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.

  • 2

    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 Wing Lung Bank mortgage?

Property TypeY/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 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 Wing Lung Bank Mortgage

Wing Lung Bank has a flexible repayment scheme, allowing applicants to repay their mortgage every month or every 2 weeks.

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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 Wing Lung Bank Home Loan

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Apply for Wing Lung Bank Mortgage via MoneySmart

  • Step 1Get in touch with our mortgage team

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

  • Step 2Compare Wing Lung 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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Wing Lung Bank Mortgage Plans FAQ

Does Wing Lung Bank impose any restriction on the property with building order?

Wing Lung Bank will 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. Applicants can also apply through Asset Based Lending using properties, cash, stocks, bonds, etc but not a certain.

Can I apply for a pre-approved mortgage?

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

Why Get a Mortgage through MoneySmart?

  • Best Mortgage Offers: Get SPECIAL interest rate offer from 2.5% and cash rebate up to 1.5%.
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