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To get a higher valuation, getting more than one valuation from different banks other than ICBC Bank is very important. But this process can be very time-consuming. If you are like most Hong Kong people, you are probably too busy to do it all by yourself. You can appoint a professional organization like MoneySmart to manage the entire mortgage application for you.
MoneySmart works with renowned mortgage lenders in Hong Kong and we can help you get multiple valuations easily in one go. To get an instant estimated value of your property, you can also try our Property Valuation Calculator.
|Mortgage Loan Size||Mortgage rate||Cash Rebate|
|HK$1,000,000 or below||P(5.25%) - 2.5% = 2.75%||0.2%|
|Above HK$1,000,000||P(5.25%) - 2.75% = 2.5%||0.5%|
|Mortgage Loan Size||Mortgage Rate /Capped Mortgage Rate||Cash Rebate|
|HK$1,000,000 or below||H+1.5%/P(5.25%) - 2.5%= 2.75%||0.2%|
|Above HK$1,000,000||H+1.4%/P(5.25%) - 2.75%= 2.5%||0.5%|
|Property types||Y/ N||Remarks|
|New purchase of public housing without premium payment (green form applicants)||N||N.A.|
|New purchase or refinance of HOS flats without premium payment||Maybe||Letter from HOS required|
|Property with building orders||Y||Depending on the seriousness of the violation|