Best Public Bank (Hong Kong) Mortgage Plan in Hong Kong

Registered under the Banking Ordinance of Hong Kong and under the supervision of the Hong Kong Monetary Authority, Public Bank (Hong Kong) provides a wide range of retail and commercial banking services and is committed to serving its customers in Hong Kong and Greater China. Currently, the Bank has a network of 32 branches in Hong Kong.

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Mortgage Plans

Public Bank Mortgage is characterized by Preferential Mortgage Rate and you can borrow up to 90% of appraised property value for up to 30 years.

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Public Bank (Hong Kong) New Buy Hibor Rate

Hibor Rate PlanHIBOR Plan RateInterest Rate CapApplicable Property Types
Public Bank (Hong Kong) Prime RateP(5.38%)-2.75%5.375%Public Housing and HOS Scheme

Public Bank (Hong Kong) Refinance Prime Rate Plan

Prime Rate PlanP Plan RateBest Lending Rate (=P)Applicable Property Types
Public Bank (Hong Kong) Prime RateP(5.38%)-2.75%5.375%Public Housing and HOS Scheme

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Public Bank (Hong Kong) Mortgage Plan: Advantages

  • Public Bank Mortgage is characterized by below features:

    • Preferential Mortgage Rate
    • Repayment tenor up to 30 years
    • Loan Amount up to 90% of the appraised property value1
    • Waiver of valuation fees
    • Free fire insurance premium for the first year

Public Bank (Hong Kong) Mortgage Plan: AdvantagesPublic Bank (Hong Kong) Mortgage Plan: Advantages

Public Bank (Hong Kong) 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 Public Bank (Hong Kong) mortgage plans such as mainland properties, public housing, etc.

Public Bank (Hong Kong) Mortgage Plan: DisadvantagesPublic Bank (Hong Kong) Mortgage Plan: Disadvantages

Mortgage Term with Public Bank

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

Public Bank will take property age into account when reviewing your mortgage applications.
Public Bank 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 Public Bank (Hong Kong)

Most 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 service.

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Public Bank (Hong Kong) 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 Public Bank (Hong Kong) 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: 85% LTV, depending on mortgage amount

10 Million or above: 50% LTV

Maximum Loan Period: 25 years

Tong LauYLess than 10 Million: 85% 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 Public Bank (Hong Kong) 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 Public Bank (Hong Kong) Home Loan

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Apply for Public Bank (Hong Kong) 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 Public Bank (Hong Kong) 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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Public Bank (Hong Kong) Mortgage Plans FAQ

Does Public Bank (Hong Kong) impose any restriction on the property with building order?

Public Bank (Hong Kong) accepts mortgage applications 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.

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