Latest HOS Mortgage Offers｜Online Applications Can Be Approved in as Fast as 1 Day!
For prospective homeowners who will soon be moving into their HOS flats, the mortgage application process is now faster and more convenient online, with approval available in as fast as one day!
✅ Ideal for prospective homeowners planning ahead
✅ A more convenient mortgage application process
✅ Apply online to save time and effort
✅ Finalise your budget sooner and purchase your home with greater peace of mind
Apply for a Green Form / HOS Mortgage Now
HOS Mortgage Details
What are the typical mortgage-to-value ratios and repayment periods for HOS flats?
HOS mortgages differ from private residential mortgages, particularly in terms of the mortgage-to-value ratio and repayment period. To assist residents with home ownership, the Government provides mortgage guarantees for HOS mortgages, allowing applicants to obtain a higher loan-to-value ratio.
Green Form applicants: Up to 95% financing, requiring a down payment of only 5% of the property price.
White Form applicants: Up to 90% financing, requiring a down payment of 10% of the property price.
What mortgage options are available for HOS flats?
H Plan (HIBOR-based)
The interest rate of an H Plan is linked to the Hong Kong Interbank Offered Rate (HIBOR) and is usually expressed as “H + a fixed percentage”. It also comes with a cap rate to protect borrowers against sharp increases in interest rates. For example, the mortgage rate may be as low as H + 1.3%, with a cap rate of 3.25%.
P Plan (Prime Rate-based)
A P Plan is based on the bank’s own prime rate and fluctuates accordingly.
How should you choose?
H Plan: When HIBOR is relatively low, an H Plan may be more attractive than a P Plan. However, you should pay attention to the cap rate to ensure that you can still afford the repayments if interest rates rise.
P Plan: Suitable for borrowers who prefer a relatively stable interest rate.
HOS Mortgage Application Process
- Choose a bank: Contact M Referral Mortgage Referral Company to compare the mortgage offers and services provided by different banks.
- Submit your application: Complete the mortgage application form and submit the required documents.
- Bank assessment: The bank will assess your income, credit history and other relevant factors.
- Sign the documents: Once the mortgage is approved, sign the mortgage deed and other relevant documents.
- Draw down the loan: After all procedures have been completed, the bank will release the mortgage funds.
Apply for a Green Form / HOS Mortgage Now
Green Form Subsidised Home Ownership Mortgage Details
What are the typical mortgage-to-value ratios and repayment periods for Green Form Subsidised Home Ownership flats?
Applicants for Green Form Subsidised Home Ownership housing must be Green Form applicants. Green Form applicants may obtain financing of up to 95%, requiring a down payment of only 5% of the property price.
What mortgage options are available for Green Form Subsidised Home Ownership flats?
H Plan (HIBOR-based)
The interest rate of an H Plan is linked to the Hong Kong Interbank Offered Rate (HIBOR) and is usually expressed as “H + a fixed percentage”. It also comes with a cap rate to protect borrowers against sharp increases in interest rates. For example, the mortgage rate may be as low as H + 1.3%, with a cap rate of 3.25%.
P Plan (Prime Rate-based)
A P Plan is based on the bank’s own prime rate and fluctuates accordingly.
How should you choose?
H Plan: When HIBOR is relatively low, an H Plan may be more attractive than a P Plan. However, you should pay attention to the cap rate to ensure that you can still afford the repayments if interest rates rise.
P Plan: Suitable for borrowers who prefer a relatively stable interest rate.
Green Form Subsidised Home Ownership Mortgage Application Process
Choose a bank: Contact M Referral Mortgage Referral Company to compare the mortgage offers and services provided by different banks.
Submit your application: Complete the mortgage application form and submit the required documents.
Bank assessment: The bank will assess your income, credit history and other relevant factors.
Sign the documents: Once the mortgage is approved, sign the mortgage deed and other relevant documents.
Draw down the loan: After all procedures have been completed, the bank will release the mortgage funds.
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