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Cross-Boundary Mortgage Loan in Greater Bay Area
With the rapid growth of the Greater Bay Area, many Hong Kong residents are willing to purchase the properties for investment or self-use basis. The Cross-Boundary Mortgage Loan can help the buyers buy the properties with financial flexibility. Now they can apply for the mortgage in Hong Kong conveniently and repay the loan in Hong Kong Dollars.
Features of Cross-Boundary Mortgage Loan
If the borrower is a Hong Kong resident with a Hong Kong identity card and a Mainland travel permit, he will be eligible for the cross-boundary mortgage application. The property types include first-hand residential properties in 9 Greater Bay Area cities (Shenzhen, Zhongshan, Zhuhai, Guangzhou, Foshan, Dongguan, Huizhou, Zhaoqing and Jiangmen) or second-hand properties for refinance purposes. The loan-to-value (LTV) ratio can be up to 60% and the repayment period is as long as 30 years. The maximum loan amount is $10,000,000. Borrowers can choose to select either a monthly or biweekly repayment method.
Mainly first-hand residential properties in 9 Greater Bay Area cities or second-hand properties for refinance purposes.
Some plans can be eligible for office and shops and apartments
|Interest rate||Prime rate minus 2%|
|Loan amount||Up to 60% of the purchase price (maximum $10,000,000)|
|Maximum loan tenor||30 years|
|Property location||Shenzhen, Zhongshan, Zhuhai, Guangzhou, Foshan, Dongguan, Huizhou, Zhaoqing and Jiangmen|
Steps of getting a mortgage in Greater Bay Area
1. Buy a first-hand property in Greater Bay Area or decide to refinance a property
2. Prepare supporting documents
3. Apply for the mortgage through mReferral
4. Open a loan repayment account at the bank
5. Complete the mortgage application
Documents needed for mortgage application
The documents for Cross-Boundary Mortgage Loan application are simple, you just need to prepare 1) Hong Kong Permanent Identity Card, 2) Sales contract of the Residential Properties in Primary Market or Real Property ownership certificate, 3) Payroll bank statement for the last 3 months, 4) Income proof for the last 3 months and 5) Residential proof in Hong Kong.
If you want to learn more information about Cross-Boundary mortgage or need help from our mReferral mortgage team, please feel free to reach us at 3196-6688.