FIRST
PROPERTY MORTGAGE

When applying for a property mortgage loan with Credit KO, the procedures and approval conditions are more flexible than those of traditional banks. There is no requirement for stress testing or proof of income, and personal credit checks (TU/TE) are unnecessary. Simply provide personal information, property details, and company information to access the loan and meet your financial needs easily. Enjoy the convenience of a quick approval process, with the possibility of approval within 30 minutes.

The loan amount for property mortgage loans depends on the customer’s credit rating, income, occupation, and financial condition. Credit KO offers property mortgage loans of up to HK$20 million with no processing fees (including lawyer’s fees and valuation fees). Additionally, the repayment period can be as long as 120 months, providing flexibility and freedom in repayment. Let us assist you in transforming your life through property ownership.

To apply for a Credit KO property mortgage loan, simply follow these four easy steps:

1. Click Here to fill out the valuation application form.
2. Upload the required documents.
3. Receive a quick approval in as little as 15 minutes.
4. Visit the lawyer’s office to sign the mortgage loan documents.

Mortgage interest rates for first property loans in HK are primarily based on the Hong Kong Interbank Offered Rate (HIBOR), which the Hong Kong Association of Banks determines. Other factors that can influence mortgage rates include the prime rate, set by banks based on their costs, and the loan-to-value ratio (LTV). The Hong Kong government also implements measures to regulate the property market, which can indirectly affect mortgage rates.

The maximum loan-to-value (LTV) ratio allowed when taking out a mortgage in Hong Kong varies depending on the type of property and the borrower’s financial situation. For residential properties, the maximum LTV is typically 60-90%, with higher ratios allowed for first-time homebuyers. However, the Hong Kong Monetary Authority (HKMA) has implemented measures to tighten lending standards, which may result in a lower maximum LTV for high-value properties.

In Hong Kong, a first mortgage is a loan taken out to purchase a property, while a reverse mortgage is a loan taken out against the equity of a property that is already owned. In a first mortgage, you make regular payments to the lender, gradually paying off the loan and building equity in the property. On the other hand, a reverse mortgage, a program managed by the Hong Kong Mortgage Corporation (HKMC) and available to pensioners aged 55 and above, allows homeowners to borrow against their home’s equity, typically without having to make regular payments. The loan is usually repaid when the homeowner sells the property or passes away. Reverse mortgages are commonly used by older homeowners to supplement their income in retirement.