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Prospective mortgage applicants can make use of the Standard Chartered Bank free property valuation services to get an estimated market value of the property that you are interested in. What you need to do is simply enter a few property details. The result is usually more conservative so you should only take it as a reference. To get a higher valuation, it is imperative to get more valuations from different banks. But this process can be daunting.
If you are like most Hong Kong people, you probably do not have time to do that. Luckily, you do not have to compromise. You can appoint professionals like MoneySmart to handle the entire mortgage application for you. We work with major mortgage lenders in Hong Kong and we can help you get a number of valuations easily in one go. To get an estimated value of your property instantly, you can also try our Property Valuation Calculator.
|Mortgage Loan Size||Mortgage rate||Cash Rebate|
|HK$1,000,000 or above||P(5.375%) - 3% = 2.375%||New Purchase: 2.05%, Refinance: 1.50%|
|Mortgage Loan Size||Mortgage Rate /Capped Mortgage Rate||Cash Rebate|
|HK$1,000,000 or above||H+1.240％／P(5.375%) - 2.90% = 2.475%||1.5%|
|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|
|Village house||Only applicable to new purchases||N.A.|
|Property with building orders||Maybe||Depending on the severity level of the violation|