Property News · July 16, 2019

Here’s what Hongkongers need to know about cash rebates on mortgage transfers


HSBC’s abrupt and drastic cut in cash rebate on mortgage refinancing from 2.1 per cent to 1.5 per cent last month startled the mortgage industry. Assuming an average loan size of HK$4 million (US$511,000), the borrower would now get HK$24,000 less cash rebate for refinancing at HSBC. Refinancing has grown by leaps and bounds in recent years. According to data from the Hong Kong Monetary Authority, refinancing accounted for nearly 30 per cent of total mortgages approved in May. Over the past…

Source : South China Morning Post
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